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大摩:相信美的A股股价45天内有约逾八成机会跑赢大市 目标价94元

Morgan Stanley believes that the price of Midea's A shares has over an 80% chance of outperforming the market within 45 days, with a target price of 94 yuan.

Breakings ·  Jan 9 07:04

Morgan Stanley published a Research Report stating that the National Development and Reform Commission announced the details of the 2025 consumption goods replacement program, which has a broader scope and an increase in subsidies for Air Conditioners. The policy details are slightly better than expected, especially in the area of Air Conditioners. Morgan Stanley expects that leading home appliance companies like Midea will benefit more and see positive stock price reactions in the short term. The forecast PE for both Midea's A and H shares in 2025 is about 13 times, slightly lower than the average level for Midea's A shares since 2017, but slightly higher than the average level for Midea's H shares since they were listed in Hong Kong last September. Morgan Stanley also expects that the compound annual growth rate of Midea's earnings per share for the fiscal years 2024 to 2026 will be in the low double digits, considering the stock attractive, while believing its A share price has over an 80% chance of outperforming the market within 45 days. The firm sets the target price for Midea's A shares at 94 yuan, giving it a 'Shareholding' rating.

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