Morgan Stanley lowered the target price for Meilan Airport (00357) to HKD6.2 from HKD7.4 and downgraded the rating to "underweight" from "equal-weight".
The research house said it cuts 2024-26 earnings after factoring in arbitration results and soft DF sales. It expects a RMB298mn loss in 2024 and lowers profit for 2025-26 by 56% and 39%, respectively.