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<Research>M Stanley Lowers Sales Forecasts for CHINA VANKE (02202.HK), Cuts TP to $4.28
Recommend 4 Positive 2 Negative 6 |
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Morgan Stanley released a research report lowering its forecasts for CHINA VANKE (02202.HK) to reflect weak property sales and lower gross profit margins. The broker reduced its 2025 property sales forecast by 14% to RMB144 billion, implying a 42% YoY decline, reflecting a total 45% YoY drop in 9M25 sales and the continuous depletion of land reserves. Additionally, due to booking changes, Morgan Stanley lowered its 2025/ 2026/ 2027 revenue forecasts by 21%/ 18%/ 13% each. Therefore, the broker raised its 2025/ 2026/ 2027 net loss forecasts by 14%/ 13%/ 10% each, and cut its target price from $4.65 to $4.28, with rating kept at Equalweight. AASTOCKS Financial News Website: www.aastocks.com |
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