Xin Lang Cai Jing·2025-10-10 07:53Group 1: Alibaba Group (阿里巴巴) - Daiwa Securities maintains a "Buy" rating for Alibaba-SW, raising the target price to HKD 205 due to optimistic expectations for Alibaba Cloud's business prospects and long-term gross margin outlook [1] - JPMorgan upgrades Alibaba-SW to "Overweight" and raises the target price to HKD 240, citing the company's stock performance over the past three months and optimistic growth opportunities in cloud revenue and e-commerce synergy [1] Group 2: Gao Xin Retail (高鑫零售) - Macquarie Securities downgrades Gao Xin Retail to a "Neutral" rating and lowers the target price to HKD 1.7, anticipating a decline in same-store sales due to significant subsidies in instant retail and pressure on gross margins [2] Group 3: Budweiser APAC (百威亚太) - CMB International maintains a "Buy" rating for Budweiser APAC but lowers the target price to HKD 9.5, noting that the current stock price reflects short-term sales pressure and a potential marginal improvement in Q4 [3] Group 4: Galaxy Entertainment Group (金界控股) - Citigroup maintains a "Sell" rating for Galaxy Entertainment but raises the target price to HKD 5.4, as the company's Q3 gaming revenue significantly exceeded expectations, leading to a 20%-24% increase in profit forecasts [4] Group 5: Sands China Ltd. (金沙中国有限公司) - Haitong International initiates an "Outperform" rating for Sands China Ltd. with a target price of HKD 25.6, highlighting the company's strong market position in Macau and the positive impact of the Londoner project on EBITDA margins [5] Group 6: Contemporary Amperex Technology Co. (宁德时代) - JPMorgan maintains a "Neutral" rating for Contemporary Amperex Technology Co. while raising the target price to HKD 600, based on a valuation adjustment for 2026, despite a projected 20% upside in stock price [6] Group 7: Smoore International Holdings (思摩尔国际) - UBS maintains a "Sell" rating for Smoore International, setting a target price of HKD 13.11, citing rising R&D and sales expenses along with gross margin pressure leading to a projected 40% decline in net profit for 2025 [7] Group 8: Standard Chartered Group (渣打集团) - Goldman Sachs maintains a "Neutral" rating for Standard Chartered Group, raising the target price to HKD 135, expecting a 6% year-on-year growth in adjusted pre-tax profit for Q3 due to strong non-interest income and cost reductions [8] Group 9: Cheung Kong Infrastructure Holdings (长江基建集团) - Morgan Stanley maintains a "Market Perform" rating for Cheung Kong Infrastructure Holdings, increasing the target price to HKD 54 based on the latest regulatory asset value and extending the valuation timeframe to 2026 [9][10]