Ge Long Hui·2025-09-12 02:53Core Viewpoint - Morgan Stanley has updated its model for China Merchants Port to reflect the latest performance, management guidance, and recent operational trends, raising the target price from HKD 17 to HKD 18 while maintaining an "Overweight" rating [1] Financial Metrics - The company is considered attractive with a forecasted price-to-earnings ratio of 8.5 times for 2025 [1] - The enterprise value to adjusted EBITDA is projected at 7.4 times [1] - The expected dividend yield from 2025 to 2027 ranges from 5.5% to 6.2% [1] - The free cash flow yield is estimated to be around 11% to 12% [1] Investment Appeal - The company's robust free cash flow, solid dividend policy, and earnings situation support its defensive attractiveness [1] - A diversified investment portfolio and proactive cost management further enhance the company's appeal [1]