摩根士丹利：上调京东健康目标价至52.5港元

Core Viewpoint - Morgan Stanley has raised its revenue and net profit forecasts for JD Health for the years 2025 to 2027 based on the company's performance in the first half of the year [1] Revenue Forecast - Revenue forecasts have been increased by 1.7%, 2%, and 2.3% for the years 2025, 2026, and 2027 respectively, primarily due to the ongoing trend of online penetration in drug sales [1] Net Profit Forecast - Net profit forecasts have been raised by 14.7%, 14.5%, and 13% for the years 2025, 2026, and 2027 respectively, attributed to improvements in gross margin from product mix changes and effective cost control [1] Target Price Adjustment - The target price for JD Health has been increased from HKD 46 to HKD 52.5, while maintaining a rating of "in line with the market" [1]