Morgan Stanley issued a research report stating that GEEKPLUS-W (02590) has clearer growth prospects for 2025 to 2026. With continuously improving profit margins and rising operational leverage, the company is expected to achieve positive profitability starting this year. The firm believes that the intelligent robotics strategy and execution capabilities should support a re-rating of the stock.

The bank maintained its revenue and net profit forecasts unchanged, expecting revenue to grow 30% in both the current year and next year. Net profit is projected to turn positive this year, reaching RMB 109 million, and further increasing to RMB 374 million next year.

Morgan Stanley raised its target price from HK$21.6 to HK$28.3 while maintaining an "Overweight" rating on the stock.