Market Overview

UPDATE: Credit Suisse Upgrades WuXi PharmaTech to Outperform on Growth Drivers

Related WX
WuXi PharmaTech In Focus: Stock Falls 6.4% - Tale Of The Tape
UPDATE: Morgan Stanley Reiterates On WuXi PharmaTech As Strong Growth Remains Intact

Credit Suisse raised its rating on WuXi PharmaTech (NYSE: WX) from Neutral to Outperform and increased the price target from $14 to $18.

Credit Suisse noted, "We believe the market under- appreciated WuXi's potential upside from its core growth drivers: (i) Vertically integrated service offerings could benefit more than expected; (ii) Manufacturing business will be scaled-up driven by robust pipelines (four customer drugs move into commercial stage); (iii) Biologics business is on the rise in China, first mover to capture most value (pioneer in setting JV with MNCs such as the AstraZeneca-MedImmune deal)."

WuXi PharmaTech closed at $13.94 on Wednesday.

Posted-In: Credit SuisseAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

Most Popular

Related Articles (WX)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters