Morgan Stanley raises China Mobile Limited (00941) target price to HKD 90, with a "overweight" rating.
The basic earnings per share forecasts for 2025 and 2026 are expected to increase by 1.6% and 2.1% respectively, while the earnings per share forecast for 2027 is adjusted to 7.42 Chinese yuan per share.
Morgan Stanley released a research report stating that it has raised its service revenue forecast for China Mobile Limited (00941) for 2025 to 2026 by 1%, and slightly lowered its EBITDA forecast after taking into account the first quarter performance. As a result, the basic earnings per share forecast for 2025 and 2026 will increase by 1.6% and 2.1% respectively, while the earnings per share forecast for 2027 has been adjusted to 7.42 yuan per share. In addition to the profit forecast revision, the bank also lowered its capital expenditure forecast after the performance announcement of China Mobile Limited. Therefore, the target price has increased by 5.9%, from HK$85 to HK$90, with a "hold" rating.
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