STOCKS | Morgan Stanley Cuts Zoomlion Price Target After Weak Q2 Results

Morgan Stanley cut its target price on Zoomlion Heavy Industry Science and Technology (01157) to HK$9 from HK$10 and kept an Overweight rating after the company’s second-quarter results missed expectations, according to ETNet. The broker said it lowered its revenue forecasts for 2026 to 2028 by 4%, 6% and 9%, respectively, mainly to reflect weaker overseas growth. It also trimmed its net profit forecasts for the same period by 10% to 13%, citing lower gross margins but slightly lower operating expenses.