Morgan Stanley has raised the target price of Dongfeng Group (00489) to HK$11.24 and rated it as "neutral".

Morgan Stanley released a research report stating that according to the latest disclosure from Voyah, DONGFENG GROUP (00489) has raised its average price by 7% in the first seven months, with sales volume also increasing to 150,000 vehicles. Taking into account the latest sales trend, the company is expected to see a 15% year-on-year revenue growth in the 2025 fiscal year. The bank has also adjusted the company's target price accordingly by 5.6%, from HK$10.65 to HK$11.24, with a rating of "hold".