Morgan Stanley: Maintains "in line with market" rating for KUNLUN ENERGY (00135) with target price cut to 8.6 Hong Kong dollars.

Morgan Stanley released a research report stating that it has lowered its earnings forecasts for Kunlun Energy (00135) for the years 2024-2026 by 4%-6%, due to a decrease in the expected USD profit margin. At the same time, the company has increased its profit forecast for its liquefied petroleum gas and liquefied natural gas related businesses. The target price has been reduced by 5.49%, from HK$9.1 to HK$8.6, maintaining a "market perform" rating.