Morgan Stanley maintains a "market perform" rating on Guangzhou Baiyunshan Pharmaceutical Holdings (00874) with a target price lowered to 21.7 Hong Kong dollars.

13:45 17/09/2024

Daiwa Securities lowers White Mountain's profit forecast for 2024-2030 by 3%-11%.

Morgan Stanley has released a research report stating that after the quarterly report of Guangzhou Baiyunshan Pharmaceutical Holdings (00874) this year, it has lowered its profit forecast for Guangzhou Baiyunshan Pharmaceutical Holdings for the years 2024-2030 by 3%-11% due to a decrease in sales and gross profit margin. Morgan Stanley has also increased its accounts receivable days. Overall, Morgan Stanley has lowered the target price for Guangzhou Baiyunshan Pharmaceutical Holdings by 14.6%, from HK$25.4 to HK$21.7. The rating remains "In Line with the Market" for now.

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HK Stock Market Move | Joinn Laboratories (06127) rose more than 7%, with a cumulative increase of nearly 60% in the past month. The company is expected to benefit from fair value gains.

HK Stock Market Move | MGM China (02282) rebounds nearly 5% as licensing fees increase, dragging down profits. Goldman Sachs believes that the recent stock price adjustment is excessive.

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