Lyon: Morgan Stanley rates Mengniu as "highly confident to outperform the market", demand for liquid milk is improving.

A report released by Lyon stated that, in the mid-term, multiple factors indicate that the demand for liquid milk is improving, including rising prices of raw milk, distributors showing a more positive attitude towards the industry, and resilient sales performance. Mengniu stated that, so far this year, both liquid milk sales and overall sales have recorded good year-on-year growth; they have repurchased 1 million shares in the past two months, accounting for approximately 0.026% of the total issued shares. The firm maintains a target price of HK$21.1 for Mengniu, with a rating of "highly confident to outperform the market."