Morgan Stanley has released a report adjusting its price target for ZA Online (06060) to HK$14.6, a minor increase from the previous HK$14.5, while reaffirming an "Overweight" rating on the stock.

In the same note, the investment bank has raised its net profit forecasts for the years 2026 through 2028 by 14.5%, 2.6%, and 6.6%, respectively. Meanwhile, net asset value projections remain largely unchanged, with adjustments for the 2026-2028 period all coming in at less than 1%.

The firm attributes these revisions to ongoing business optimization efforts. It anticipates that premium growth for ZA Online could decelerate to a low single-digit rate in 2026, though the overall business quality is expected to remain sound, with a combined ratio holding steady at approximately 96%.