大行评级｜大摩：微升越秀地产目标价至5.96港元 上调2025至27年盈测

Core Viewpoint - Morgan Stanley's research report indicates that Yuexiu Property's performance in the first half of the year exceeded expectations, leading to an upward revision of gross margin forecasts for 2025 to 2027 [1] Financial Performance - The gross margin forecasts for Yuexiu Property have been increased by 0.1, 0.4, and 0.7 percentage points for the years 2025, 2026, and 2027, respectively, now standing at 11.5%, 13.1%, and 16.2% [1] - Earnings estimates for the same years have been raised by 5.3%, 1.6%, and 4.4% [1] Target Price and Rating - Following the adjustments in forecasts, Morgan Stanley has slightly raised the target price for Yuexiu Property from HKD 5.8 to HKD 5.96, maintaining an "Overweight" rating [1]