Core Viewpoint - Morgan Stanley has raised the revenue forecasts for Hengan International (01044) for 2025 to 2027 by 2%, 4%, and 4% respectively, reflecting strong performance across its three major business segments [1] Revenue Forecast Adjustments - The revenue expectations for Hengan International have been increased due to better-than-expected performance in its core segments [1] Gross Margin and Net Profit Adjustments - The gross margin forecasts have been adjusted upwards by 2.1 percentage points, 1 percentage point, and 0.4 percentage points for the respective years, leading to net profit increases of 14%, 14%, and 9% [1] Target Price and Rating - Morgan Stanley has set a new target price of HKD 24 for Hengan International, up from the previous HKD 21, reflecting the improved profit forecasts; the rating remains "in line with the market" [1]
大摩：更新对恒安国际风险回报 目标价升至24港元