大摩：升金沙中国目标价至23港元 上调盈测 维持“增持”评级

Core Viewpoint - Morgan Stanley forecasts a 9% growth in Free Cash Flow to Equity (FCFE) for Sands China (01928) next year and raises the target price for the stock by 10%, from HKD 21 to HKD 23, while maintaining an "Overweight" rating [1] Financial Projections - Morgan Stanley has increased its EBITDA forecasts for Sands China for the years 2025 to 2027 by 1%, 6%, and 8% respectively [1] - Consequently, the earnings per share estimates for the same period have been raised by 1%, 12%, and 14% respectively [1]