Morgan Stanley raises target price for Fuyao Glass (03606.HK) to HK$39, rating synchronized with the broader market

On June 26th, Jinshi Data reported that Morgan Stanley is considering raising its earnings per share forecast for Fuyao Glass (03606.HK) by 3% and 5% for the next two years, to 2.6 yuan and 3.1 yuan, respectively, to reflect improvements in product mix, stronger gross margins and stable costs, based on the performance of the first quarter of 2024. The bank raised its target price from HKD 36 to HKD 39 and maintained a rating in line with the market.

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