Morgan Stanley lowers Johnson Electric target price to HK$15.25

Morgan Stanley pointed out in its daily briefing that it downgraded the earnings prediction of Johnson Electric Holdings Limited (0179) to reflect the weakness in the European market, and its target price was also reduced from HK$16 to HK$15.25, while the fund house remained its rating at ˇ§leading the marketˇ¨.

Morgan Stanley predicted that the global economy would see bottom in the second half of 2002 and the restructuring would be accelerated and strong growth circle would come.

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