[Morgan Stanley: Lowers Shenzhou International's Target Price to HK$50, Cuts 2026-2028 Earnings Forecasts] According to a report by Jinse Finance, on June 29, Morgan Stanley released a research report stating that fluctuations in Shenzhou International's orders in the first half of 2026 will impact its revenue and profit margins. However, the stock's underperformance relative to the broader market this year has already fully reflected these weak factors. The firm expects that as the impact of the Middle East conflict subsides and customer sentiment improves, coupled with a low base effect, shipment volume and revenue in the second half of the year will grow 9% year-on-year, with net profit expected to grow 19% year-on-year. In light of macroeconomic uncertainties, the firm has lowered its earnings forecasts for 2026-2028 by 3%, 5%, and 8%, respectively, and reduced the target price-to-earnings ratio from 14x to 12x. The target price has been adjusted from HK$58 to HK$50. Morgan Stanley reiterated its 'Overweight' rating, noting that the stock currently offers an expected cash dividend yield of over 6%, making it attractive.