Damo raised the normal earnings forecast for Jinshan Software (03888) per share for the next three years by 12.4%, 13.8%, and 9.3%.
The Zhitong Finance App learned that Morgan Stanley released a research report stating that it raised the normal profit forecast for Jinshan Software (03888) by 12.4%, 13.8%, and 9.3% per share for the next three years, and the target price increased by 2.9% to HK$36 from HK$35 to reflect revisions to its forecast and maintain an “gain” rating.
According to the report, considering Jinshan Software's 2024 guidelines for a 10% annual increase in game revenue, Damo raised its revenue forecast for 2024, 2025, and 2026 by 2%, 1.8%, and 1.6%, respectively. At the same time, the Group's three-year sales expenditure assumptions were lowered by 6.2%, 5.6% and 5.1% to reflect first-quarter results.