大摩：上调金山软件收入预测 维持目标价38港元

Group 1 - Morgan Stanley has raised its revenue forecasts for Kingsoft (03888) for the years 2025 to 2027 by 1.5%, 2.1%, and 2.7% respectively [1] - The normalized earnings per share forecasts for the same period have been adjusted, with increases of 0.4% for 2025, and decreases of 4.9% and 3.2% for 2026 and 2027 respectively, primarily due to the revenue forecast increase being offset by higher operating expenses [1] - The target price for Kingsoft remains at HKD 38, with a rating of "in line with the market" [1]