UPDATE: Jefferies Raises PT on WuXi PharmaTech Following Raised 2013 EPS Guidance

In a report published Tuesday, Jefferies analyst David Windley reiterated a Buy rating on WuXi PharmaTech WX, and raised the price target from $24.00 to $28.00.

In the report, Jefferies noted, “Management signaled its forward optimism by raising its guidance mid-point by $0.06-0.07 more than the 2Q13 upside. Headline results for 2Q were well ahead of consensus, and slightly better than us on revenue, GM, and EPS (even ex-FX gains and 1x tax benefits). WX remains one of the more consistent CRO performers. It is also the cheapest of the CROs despite its favorable growth outlook. PT to $28.”

WuXi PharmaTech closed on Monday at $23.76.