Morgan Stanley raised the profit forecast for China Res Gas for 2024-2026 by 2%.
Zhixin Finance APP learned that Morgan Stanley released a research report stating that the target price for China Res Gas (01193) was raised by 2% from 33.4 Hong Kong dollars to 34.1 Hong Kong dollars, mainly reflecting better profit forecasts, and maintained a 'shareholding' rating. The pessimistic and optimistic assumptions for the company have also been raised by 2%, mainly due to higher earnings per share forecasts.
Morgan Stanley stated that it raised the profit forecast for China Res Gas for 2024-2026 by 2%, taking into account the actual performance in the first half of 2024, mainly due to better profit margin forecasts and extending the valuation to 2025 based on a PE ratio of 13, originally 14 for 2024.