WuXi XDC Cayman, Inc. (2268) has received a new Buy rating, initiated by CMB International Securities analyst, Jill Wu.
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Jill Wu’s rating is based on WuXi XDC’s strong position as a leader in the global XDC outsourcing service industry. The company has demonstrated significant revenue growth, with a sharp increase from RMB311 million in 2021 to RMB4,052 million in 2024, reflecting a compound annual growth rate of 135%. This growth is supported by WuXi XDC’s comprehensive service platform that spans the entire XDC drug research and development process, positioning it well for sustained revenue growth.
Additionally, the booming global XDC market, particularly in China, where the growth rate surpasses the global average, provides a favorable environment for WuXi XDC. The company’s strategic expansion of its project pipeline, with numerous late-stage and commercial projects, further solidifies its potential for future growth. WuXi XDC’s commitment to technological innovation and capacity expansion, including significant capital expenditures and the development of competitive technology platforms, enhances its competency and supports the Buy rating.
In another report released on August 29, HSBC also initiated coverage with a Buy rating on the stock with a HK$75.00 price target.