＜Research＞Nomura Lowers WUXI XDC (02268.HK) TP to $28.91, Reflecting Volatile Mkt & Geopolitical Uncertainty

　　Nomura expected WUXI XDC (02268.HK) -0.080 (-0.542%) Short selling $1.83M; Ratio 20.965% to achieve strong growth in revenue and profit in 1H, which is forecasted to rise 44.3% and 45.3% YoY respectively, with revenues up to RMB1.43 billion, citing strong domestic and overseas demand for antibody drug conjugates (ADC) model.

　　The broker maintained its Buy rating on WUXI XDC and trimmed its target price from $32.52 to $28.91, reflecting volatile market conditions and geopolitical uncertainties.

　　Considering the high customer demand for the company's ADC contract research, development and manufacturing organisation (CRDMO) service, the broker maintained its revenue and earnings forecasts for FY24 and FY25, with revenue forecasts 2.7% and 3.7% higher than the market consensus, and earnings forecasts 1.8% and 1.6% lower than the market consensus.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-23 16:25.)

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