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BofA Securities Maintains Morgan Stanley(MS.US) With Buy Rating, Raises Target Price to $146
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Jefferies Adjusts Price Target on Morgan Stanley to $144 From $135, Maintains Buy Rating
HSBC Adjusts Price Target on Morgan Stanley to $132 From $131, Maintains Hold Rating
Express News | Morgan Stanley : Jefferies Raises Target Price to $144 From $135
Morgan Stanley maintains TINGYI's "Shareholding" rating, with the Target Price lowered to HKD 11.3.
Morgan Stanley released a research report stating that it has slightly lowered the Target Price for TINGYI (00322) by 2%, from HKD 11.5 to HKD 11.3, while maintaining a "Shareholding" rating. Morgan Stanley indicated that it has reduced its earnings forecast for TINGYI for 2024-2026 by 2%, mainly due to: 1) a 1% downward adjustment in sales forecast, considering weak beverage sales due to competition; 2) a 0.2 percentage point reduction in gross margin forecast, due to increased palm oil costs; 3) operational expenditure forecasts remain largely unchanged. The report states that the firm's fundamental assumption for TINGYI is that the company will maintain stable raw material prices by 2025.
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