Morgan Stanley released a research report stating that it has updated China Merchants Bank's risk-return assessment and adjusted its profit forecast for CMB after the announcement of its third quarter results; it also lowered the bank's net interest spread forecast based on the slow recovery of net interest spreads after the third quarter results compared to expectations. As a result, Damo lowered CMB's earnings per share forecast for 2025 to 2027 by 1%, 2.9%, and 3.1%, respectively; and considering that CMB H shares have always had a premium over CMB A shares, Damo removed the 10% discount valuation level it previously used for CMB H shares when considering CMB H shares market accounts. As a result, the CMB H share target price was raised from HK$61 to HK$63.4, and the rating was “increased.”

Morgan Stanley released a research report stating that it has updated China Merchants Bank's risk-return assessment and adjusted its profit forecast for CMB after the announcement of its third quarter results; it also lowered the bank's net interest spread forecast based on the slow recovery of net interest spreads after the third quarter results compared to expectations. As a result, Damo lowered CMB's earnings per share forecast for 2025 to 2027 by 1%, 2.9%, and 3.1%, respectively; and considering that CMB H shares have always had a premium over CMB A shares, Damo removed the 10% discount valuation level it previously used for CMB H shares when considering CMB H shares market accounts. As a result, the CMB H share target price was raised from HK$61 to HK$63.4, and the rating was “increased.”