According to the report released by Morgan Stanley on the Zhitong Finance and Economics APP, the target price of Great Wall Motor (02333) has been raised by 6.1% to HKD 12.2 from HKD 11.5, and the profit expectation for 2024 and 2025 has been raised by 13% and 7%, respectively, reflecting a stronger profit growth outlook driven by export growth, which will ease the weak sales performance in China and maintain a "synchronized with the broader market" rating.

The bank also raised the target price of Longqi's most optimistic (most bullish) to HKD 23.3, up 5.9% from HKD 22, mainly reflecting strong SUV sales and gross margin expansion, while also raising the most pessimistic (most bearish) target price from HKD 4 to HKD 4.25, up 6.25%, mainly reflecting the competitive outlook for SUVs may be tougher than expected.