Morgan Stanley: GEEKPLUS-W (02590) Expected to Rise in Price Over the Next 30 Days with "Overweight" Rating and Target Price of HKD 37
Stock News
Oct 24
According to recent research from Morgan Stanley, the firm believes that GEEKPLUS-W (02590) will see its stock price rise within the next 30 days, with a probability of 70% to 80%. The recent pullback in the share price has made the short-term valuation more attractive. Moreover, the company's new order growth accelerated in the third quarter, indicating that its fundamentals remain strong with no signs of a slowdown in growth. Morgan Stanley is confident in the ongoing trends of autonomous mobile robots (AMR) and automation solutions in the global warehousing sector, along with GEEKPLUS's robust revenue growth and improving net profit margins. Therefore, they have set a target price of HKD 37 for the stock and maintain an "Overweight" rating.
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