小摩：升三花智控(02050)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 (02050) from HKD 42 to HKD 45, and for its A-shares (002050.SH) from RMB 49 to RMB 64, maintaining an "Overweight" rating due to better-than-expected guidance and annual performance forecast from the company's management [1] Group 1 - The earnings estimates for Sanhua Intelligent Control for 2025 to 2027 have been increased by 5% to reflect opportunities in the humanoid robotics sector [1] - The company is expected to benefit from multiple favorable factors this year, contributing to its stable performance [1] - The recent pullback in both A-shares and H-shares is viewed as an ideal buying opportunity for the market [1]