大行评级｜大摩：首予美的H股“增持”评级及目标价92港元 看好公司双引擎策略

Core Viewpoint - The report from Morgan Stanley expresses optimism about Midea's dual-engine strategy, which focuses on home appliances and the To-B segment, considering the company a defensive quality enterprise with growth potential and attractive valuation, initiating coverage of Midea's H-shares with an "Overweight" rating and a target price of HKD 92 [1] Group 1 - Midea's diversified global supply chain and strong customer bargaining power mitigate the downside risk of potential U.S. tariff increases [1] - Despite high global macro uncertainty, Midea's earnings visibility is considered high, with projected revenue and profit compound annual growth rates of 7% and 10% respectively from 2024 to 2026 [1]