02:45
Morgan Stanley: Initiates coverage of Innovent Biologics with a "Market Perform" rating and a target price of HKD 95.
Jin10 data reported on October 13th that Morgan Stanley released a report initiating coverage of Innovasea (02577.HK), rating it "in line with the market" with a target price of HKD 95, equivalent to a projected price-to-sales ratio of 34 times for next year. The bank pointed out that Innovasea is a leading manufacturer of GaN power integrated circuits and believes that the company is well-prepared to benefit from secular growth drivers such as artificial intelligence data centers, humanoid Bots, and electric vehicles. However, market competition remains fierce, and the bank believes that the current valuation largely reflects the market's high expectations.

