Oppenheimer Maintains Outperform on WuXi PharmaTech (WX)

Oppenheimer is out with its report today on WuXi Pharmatech WX, maintaining Outperform.

In a note to clients, Oppenheimer writes, "We believe WX is well positioned to benefit from China's growing CRO (contract research organization) market, driven by the continued global R&D outsourcing trend and multinationals' increased R&D spending in China. We expect WX's high-quality, integrated service offering and '09-'10 strategic investment to translate into an above-industry growth rate in the coming years."

Oppenheimer maintains a $20 PT on WX.

At the time of posting, shares of WX were trading pre-market at $16.95, up 6.27% from Tuesday's close.