Morgan Stanley Lowers CHINA OVERSEAS Target Price to HK$12.5, Keeps "Equal-Weight" Rating
Stock News
Apr 08
Morgan Stanley has updated the risk-reward assessment for CHINA OVERSEAS (00688), reducing its target price from HK$13.5 to HK$12.5 while maintaining an "Equal-Weight" rating. The adjustment reflects the inclusion of 2025 financial results and the introduction of 2028 forecasts. The bank also cut its core earnings per share estimates for 2026 by 13% and for 2027 by 2%, citing revisions to property development project delivery schedules, slower rental income growth, weaker-than-expected recovery in property development gross margins, and higher selling and administrative expenses.
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