Morgan Stanley has raised its earnings per share forecast for Want Want China in 2024 and 2025 by 7%.
According to the report released by Morgan Stanley, it maintains the "Synchronized with the Market" rating for Want Want China (00151) and raises its earnings per share forecast for 2024 and 2025 by 7%, as the profit margin increased by 4% and 4% respectively due to cost savings. This exceeds the impact of weak demand for dairy products and slow sales of ice cream in the 2024 fiscal year. The target price is lowered by 5.7% from HKD 5.3 to HKD 5, with the gradual realization of sales growth in the 2024 fiscal year as the company's goal. The company's business in mainland China is stable, with strong growth momentum in emerging markets channels and overseas business.