Morgan Stanley: Assigned "Overweight" rating to Lao Pu Gold (06181.HK), target price lowered to HKD 505.

The Zhiyin Finance APP has learned that Morgan Stanley has released a research report stating that it has lowered the target price for Laopu Gold (06181.HK) from HKD 590 to HKD 505, maintaining an "Overweight" rating. The primary reason for the adjustment is based on weaker-than-expected performance projected for the second quarter of 2026, along with a declining gold price environment, which has resulted in a reduction in the company's revenue and profit forecasts. Morgan Stanley has cut Laopu Gold's projected revenue and profits for 2026 by 14%, and for 2027-28, it has reduced projected revenue and profits by 11-12% to reflect the anticipated underperformance in the second quarter of 2026 in a lower gold price environment.