Morgan Stanley: Expects Standard Chartered's (02888) stock price to outperform its peers by 70-80% over the next 30 days.

Morgan Stanley released a research report stating that it predicts that the stock price of STANCHART (02888) will outperform its peers in the next 30 days, with a probability of between 70% to 80% or very likely. The bank currently has a target price of HK$176.7 for Standard Chartered and a "buy" rating. The report points out that the prediction is based on Standard Chartered's strong quarterly performance, with the bank also raising its profit forecast for this year by 11%, and by 3.5% and 2% for the following two years. The bank also mentioned that Standard Chartered's tangible equity return rate guidance has been raised from around 13% to approximately 13%, with an update expected in February next year when the performance is announced, and the latest mid-term forecast is expected to be announced in May next year. The bank predicts that Standard Chartered's tangible equity return rate will be 13.1% this year and above 14% for the years after 2027.