Core Viewpoint - Morgan Stanley has raised the target price for JD Health from HKD 60 to HKD 68.8, maintaining a "Market Perform" rating, reflecting positive adjustments based on the company's third-quarter performance [1] Financial Performance - The increase in target price is attributed to growth in direct sales and service revenue, leading to an upward revision of total revenue forecasts for the years 2025 to 2027 by 1.4% [1] - The expansion of drug sales and an increase in the proportion of advertising revenue are expected to enhance the company's gross margin [1] - The forecast for recurring earnings per share has been raised by 9%, 13%, and 13% for the respective years 2025, 2026, and 2027 [1]