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<Research>M Stanley Upgrades ONEWO to Overweight; CN Managers' 1H Results Show Early Signs of Stability
Recommend 4 Positive 7 Negative 1 |
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The results of Chinese property managers for 1H25 showed early signs of stability, Morgan Stanley said in its research report. In the broker's estimate, the industry will grow even more quickly in 2H25, with YoY earnings growth of 4%/ 9%/ 11% for 2025-27. Morgan Stanley has upgraded ONEWO (02602.HK)'s rating from Equalweight to Overweight and raised its target price from HKD22.51 to HKD29.21 to reflect the company's turnaround and attractive dividend yield. In contrast, some stocks have moderate earnings prospects and lack catalysts for re-rating. The ratings of CHINA OVS PPT (02669.HK) and CG SERVICES (06098.HK) have been adjusted to Equalweight. The broker has also downgraded SUNAC SERVICES (01516.HK)'s rating to Underweight and axed its target price from HKD1.72 to HKD1.01, citing the company's dull earnings and dividend prospects. Morgan Stanley's ratings and target prices for other Chinese managers are available in a separate table. AAStocks Financial News |
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