Jefferies & Company Reports on WuXi PharmaTech (WX)

Jefferies & Company commented on WuXi PharmaTech WX in a report released today. In the report, Jefferies was positive in their outlook of the company. Jefferies writes, “WuXi reported 1Q revenue and earnings that slightly exceeded our estimates. The company continues to drive double-digit revenue growth as it builds out capabilities, while margins saw the predicted pressure. Mgt expects margins to remain stable at these levels. Near-term, approval of telaprevir will boost Large-scale manufacturing. In the meantime, WX's continues to capture share from Western competitors.” Jefferies maintains a Buy rating on the company and a price target of $20. Shares of the company closed the trading day at $18 yesterday, up from $17.64 at the open.