Morgan Stanley: Lowers Kerry Properties (00683.HK) target price to HK$22, maintains "In-line with the Market" rating.

Zhitong Finance APP has learned that Morgan Stanley has issued a research report stating that short-term earnings pressure on Kerry Properties (00683.HK) remains, and it will be difficult for unexpected surprises to emerge before the booking of Jinling Huating in Huangpu District, Shanghai. The bank believes that the group's new strategy of shifting toward the mass market should accelerate asset turnover, but profit margins may take a relatively long time to recover.