Glonghui, April 26 | Morgan Stanley published a report. Due to Prada's positive performance, the target price was raised from HK$65 to HK$67, and the rating “increased”. According to the bank, the Group's organic year-on-year growth rate in the first quarter was 16.5%, higher than market expectations of 13.7%. First-quarter revenue was also 2.3% higher than market expectations. The increase in performance was mainly due to the strong performance of its Miu Miu subsidiary. Management said during the conference call that the 2025 store opening plan includes Miu Miu's net increase of 10 to 15 stores and Prada's net increase of 5 to 10 stores.