Damo lowered Sinotruk's (03808) 2024 revenue forecast by 4% to 84 billion yuan.
The Zhitong Finance App learned that Morgan Stanley released a research report stating that it lowered Sinotruk's (03808) 2024 revenue forecast by 4% to 84 billion yuan and the 2025 revenue forecast by 2% to 94 billion yuan, reflecting limited visibility of heavy truck (HDT) export demand in 2024. In addition, the company's profit forecasts for 2024 and 2025 were adjusted to RMB 4.2 billion and RMB 5.3 billion, respectively. The bank lowered its target price from HK$20 to HK$18, maintaining its rating of “Overweight”.