The Zhitong Finance App learned that Morgan Stanley released a research report saying that following the announcement of Tongrentang Sinopharm (03613)'s results for the first half of 2024, Damo lowered its 2024-2030 earnings estimate by 6%-10% due to declining sales. At the same time, the bank's target price and context value decreased by 5%-8%. Among them, the target price of Tong Ren Tang Sinopharm decreased by 5%, from HK$13.5 to HK$12.8, while maintaining the “increase” rating.