Morgan Stanley: Raises the target price for CHINA FOODS to HKD 2.9, rating "Reduce"
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Morgan Stanley released a research report stating that it has lowered the profit forecast for CHINA FOODS in 2025 by 4%, while raising the profit forecast for 2027 by 2%. This is mainly due to the consideration of higher gross margin estimates, with the gross margin forecast for 2025 to 2027 raised by 1.2 percentage points, driven by higher average selling prices after price increases in 2024 and a higher base. The firm raised the target price from HKD 2.6 to HKD 2.9, reflecting higher profit forecasts for 2027 and beyond, with a rating of Underweight
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