STOCKS | Morgan Stanley Slightly Raises China Resources Mixc Lifestyle Target Price

Morgan Stanley kept its Overweight rating on China Resources Mixc Lifestyle (01209) and nudged its target price up from HK$48.02 to HK$48.06, according to ETNet. The broker cut its 2026-28 earnings per share forecasts by 0.5%, 1.2% and 2.5%, citing a solid first-half 2026 performance, slower retail sales growth amid a nationwide consumption headwind despite resilient commercial management business, and a lower selling and administrative expense ratio driven by ongoing cost-efficiency measures. It said the revised target price is based on a 4.7% 2026 forecast dividend yield and a 100% payout ratio, implying a 20 times 2027 forecast price-to-earnings ratio.