[Morgan Stanley Assigns Overweight Rating to MINIMAX, Target Price HKD 990] Morgan Stanley released a research report on March 20, assigning an Overweight rating to MINIMAX (00100.HK) with a target price of HKD 990, corresponding to a 2027 price-to-sales ratio of 56x. The report highlights that the company has rapidly iterated its large model to M2.7, significantly enhancing OpenClaw's performance to approach the Sonnet4.6 level, strengthening its native AI capabilities and Agent ecosystem development, and driving future token growth potential.