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2025-10-13 11:04:42 Morgan Stanley released a research report adjusting its forecasts for China's auto industry, due to factors such as easing trade conflicts and China's anti-involution impact. The broker raised its auto sales prediction for 2025 by 6% to 29.9 million units, implying a 9% YoY rise, as it anticipated an early car purchase wave before stimulus policies expire, and the recent launch of several new models is expected to boost wholesales in 4Q25. Regarding stocks, Morgan Stanley was more optimistic about companies achieving breakthroughs in non-auto fields, especially in AI, humanoid robots and other robotic applications, such as XPENG-W (09868.HK) and HESAI-W (02525.HK). For automakers, the broker estimated later recovery stocks like SAIC MOTOR (600104.SH) and DONGFENG GROUP (00489.HK) to provide better margin of safety next year. Morgan Stanley raised its target prices for XPENG-W's H-shares/ US stock to $119/ US$30, and dropped its target prices for LI AUTO-W (02015.HK)'s H-shares/ US stock to $124/ US$32, respectively. The broker also lifted its target prices for NIO-SW (09866.HK)'s H-shares/ US stock to $70/ US$9, and lowered its target prices for BYD COMPANY-100 (01211.HK)'s H-/ A-shares to $130/ RMB129 each. Furthermore, Morgan Stanley's target prices for SAIC MOTOR/ DONGFENG GROUP were RMB22.9/ $10.65, and the broker elevated its target prices for HESAI-W's US stock/ HORIZONROBOT-W (09660.HK) to US$35/ $11.5, all of which rated at Overweight. ~ AASTOCKS Financial News Website: www.aastocks.com | |