Morgan Stanley Raises China Stock Targets Again Citing Earnings
Morgan Stanley strategists raised their outlook for Chinese stocks for second time in a little more than a month, citing upside for valuations amid an improving outlook for earnings.
'MSCI China is finally on its way – looking set for the first earnings beat after 13 consecutive quarterly misses, while earnings estimate reductions are approaching inflection,' strategists including Laura Wang and Jonathan Garner wrote in a note dated Tuesday. 'China deserves a valuation on par with MSCI EM, cutting its longstanding discount,' they added.
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