Morgan Stanley released a research report stating that it maintained Nexteer's (01316.HK) “gain” rating and lowered its profit forecast for the 2024/25 fiscal year by 13%/11%, mainly considering the fierce price competition among original equipment manufacturers (OEMs) and increasing profit pressure. Earnings per share are expected to be US$0.06 and US$0.08 respectively in 2024 and 2025, and the target price will be reduced by 10% to HK$5.6 from HK$6.2. The basic assumption is that in addition to easing the shortage of chip supply, automobile demand from China and the US supports the company's revenue growth, and gross margin has improved.
大摩：维持耐世特(01316.HK)“增持”评级 目标价下调5.6港元
Damo: Maintaining Nexteer's (01316.HK) “Overweight” Rating and Lowering the Target Price by HK$5.6
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