Goldman Sachs Starts WuXi PharmaTech (WX) at Buy, Adds to Conviction Buy List
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Goldman Sachs initiates coverage on WuXi PharmaTech Inc. (NYSE: WX) with a Buy rating and $15.63 price target and added the stock to their Conviction Buy List.
The firm sees earnings CAGR of 28% for 2009E-2011E and expects WuXi to register above-peer-average operating and net margins of 20% and 17% in 2011E.
Catalysts the analyst cited included: scale, attractive outsourcing location, and business model.
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