According to the Zhitong Finance app, Morgan Stanley released a research report stating that Stella Holdings (01836) remains one of the bank's preferred footwear manufacturing plants, benefiting from the recovery in demand for luxury goods and fashionable footwear, as well as improvement in athletic footwear growth. A new cash feedback plan may also boost the stock sentiment. Morgan Stanley indicated that due to the cash feedback plan improving investment sentiment, clearer prospects for orders in the second half of the year reducing market concerns about macro uncertainties, as well as good order visibility, the target price of Stella Holdings has been raised from HK$15.8 to HK$16.2, equivalent to a PE of 10 times, with a "shareholding" rating.