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

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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.

Latest Ratings for WX

Oct 2013JefferiesMaintainsBuy
Aug 2013JefferiesMaintainsBuy
May 2013JefferiesMaintainsBuy

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


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