Morgan Stanley: Lowering the revenue and profit forecasts for China Tourism Group Duty Free Corporation (01880) for the next two years, rating it as "in line with the market".

Morgan Stanley released a research report stating that considering the uncertainty of the macroeconomic outlook, it has lowered the revenue forecasts for China Tourism Group Duty Free Corporation (01880) for 2025 and 2026 by 10% and 9% respectively, and also reduced the earnings forecast for the same period by 14%. They have also introduced forecasts for 2027. The H-share target price of 55 Hong Kong dollars and the rating of "market perform" remain unchanged.