Morgan Stanley revised its earnings projections for Sinopharm Group (01099), reducing forecasts across 2025-2030 by 1%-6%. This adjustment reflects lowered sales expectations within both medical equipment and pharmaceutical distribution segments. Concurrently, the investment bank decreased its price target from HK$23 to HK$22.5 while reaffirming an Overweight stance on the stock. The recalibration signals cautious near-term sector outlook despite continued confidence in the company's strategic positioning.