Core Viewpoint - Morgan Stanley has raised the target price for Zhejiang Hu-Hang-Yong (00576.HK) by 4%, from HKD 6.8 to HKD 7.1, while maintaining a buy rating [1] Financial Performance - The company is conservatively expected to achieve a compound annual growth rate (CAGR) of 2-3% in revenue and net profit after tax (NPAT) for the fiscal years 2025/2026, primarily due to its significant exposure to Chinese export demand [1] - The company’s dividend per share is expected to remain flat, having increased to RMB 0.385 last year, with a projected dividend yield of 6.5% for the fiscal years 2025/2026, which is among the highest in the Chinese peer group [1] Market Performance - The company reported strong performance in Q1 2025, prompting an update to its financial model [1] - Year-to-date, the company's stock price has risen by 13%, significantly outperforming the CSI 300 index [1] - The strong performance is attributed to a shift in investor sentiment towards defensive stocks amid a macro environment characterized by trade tensions [1]
摩根大通上调浙江沪杭甬目标价4% 维持增持