[ET Net News Agency, 8 November 2021] Morgan Stanley lowered its target price for
Hepalink (09989) to HK$14.2 from HK$14.3 and maintained its "overweight" rating.
The research house said following 3Q earnings results, it revises up formulation sales
estimate but reduces API segment gross margins over 2021-2030e. Balancing these two
factors, it revises 2021-23 earnings estimates in a range from -5% to +1%. The scenarios
values are down by 1% to 5%. (RC)