小摩：升三花智控目标价至45港元 续予“增持”评级

Core Viewpoint - Morgan Stanley has raised the target price for Sanhua Intelligent Control (002050) from HKD 42 to HKD 45, and the target price for its A-shares from RMB 49 to RMB 64, maintaining an "Overweight" rating based on the company's management guidance and better-than-expected annual performance forecast [1] Group 1 - The earnings estimates for Sanhua Intelligent Control for 2025 to 2027 have been increased by 5% to reflect the accelerating opportunities in the humanoid robotics sector [1] - The company is expected to benefit from multiple favorable factors this year, leading to a robust performance [1] - The recent pullback in the company's A-shares and H-shares is viewed as an ideal buying opportunity for the market [1]