Morgan Stanley: Raises the target price of BEST PACIFIC to HKD 3.8, maintains "Overweight" rating
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JP Morgan raised the target price for BEST PACIFIC to HKD 3.8, maintaining an "Overweight" rating, and expects sales and profits to grow by 3% and 11% respectively in the second half of 2025. With the easing of tariff impacts and improved orders, gross margin is expected to increase by 60 basis points year-on-year. Capital expenditures are expected to reach HKD 500 million to 1 billion over the next two years, driving an increase in overseas capacity
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