Morgan Stanley: Lowered the target price of CRRC Corporation (01766) to 5.5 Hong Kong dollars and maintained a "neutral" rating.

17/04/2025

GMT Eight

Morgan Stanley released a research report stating that it has lowered the target price of CRRC Corporation (01766) by 8.3%, from 6 Hong Kong dollars to 5.5 Hong Kong dollars, while maintaining a "hold" rating. Morgan Stanley's revenue forecast for the company for 2025-2026 remains largely unchanged, with a slight decrease in gross profit margin forecast of 1.9-2 percentage points. Considering the data for 2024, the company's net profit forecast for 2025 has been lowered by 10%, and for 2026 by 12%, while introducing a forecast for 2027. The basic assumption for the company is that the overall sales volume of multiple units (MU) will be around 700 units for 2024-2026, compared to 420 units for 2021-2023, representing a growth of over 60%.

Guosheng Securities: Crude steel production increased significantly in March, and demand from the consumption end continues to rise.

HK Stock Market Move | SHENZHEN INVEST(00604) rose more than 4%, with contract sales of approximately 3.133 billion yuan in the first quarter, an increase of 83.5% year-on-year.

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Morgan Stanley: Lowered the target price of CRRC Corporation (01766) to 5.5 Hong Kong dollars and maintained a "neutral" rating.

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