摩根士丹利在最新报告中调整了对时代天使（06699）的收入预测，将2026至2028年的收入预期各上调约4%。这一调整反映了管理层对于中国及海外市场销量强劲动能的最新指引，显示出公司业务增长的积极前景。
报告指出，海外业务的经调整经营利润率预计将保持盈利状态，尽管过程中可能会出现一些波动。基于现金流折现模型，大摩将目标价从95港元上调11%至105港元，体现了对公司未来增长的信心。
此外，大摩在预测中计入了2026年较高的诉讼费用以及管理层新股权激励计划所产生的股份奖励开支，因此将2027至2028年的每股盈利预测分别上调了6%和6%。
大摩还上调了营运资金效率的预期，主要得益于应收款天数从200多天缩短至约190天，这一改善反映了公司资金周转效率的提升。
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