大行评级丨大摩：下调金山软件目标价至33港元 续予“与大市同步”评级

Group 1 - Morgan Stanley has revised down its revenue forecasts for Kingsoft for 2025 to 2027 by 3.6%, 3.7%, and 3.5% respectively, reflecting weaker-than-expected performance in the gaming business [1] - The adjustments in revenue and gross margin forecasts have led to a downward revision of the company's adjusted earnings per share estimates by 12.4%, 5.8%, and 9.6% for the same period [1] - The target price for Kingsoft has been lowered from HKD 38 to HKD 33, while maintaining a "market perform" rating [1]