Core Viewpoint - Morgan Stanley has adjusted its profit forecasts for China Foods (00506), lowering the 2025 profit estimate by 4% while increasing the 2027 profit estimate by 2% due to higher gross margin expectations [1] Summary by Category - Profit Forecast Adjustments - The 2025 profit forecast has been reduced by 4% [1] - The 2027 profit forecast has been increased by 2% [1] - Gross Margin Expectations - Gross margin forecasts for 2025 to 2027 have been raised by 1.2 percentage points [1] - The increase is driven by higher average selling prices following price hikes in 2024 and a higher base [1] - Target Price and Rating Changes - The target price for China Foods has been raised from HKD 2.6 to HKD 2.9 [1] - The rating has been downgraded to "Underweight" [1]
大摩：升中国食品(00506)目标价至2.9港元 评级“减持”