Morgan Stanley cuts target to HKD 10.50 for Haidilao stock

Morgan Stanley lowered its target for Haidilao from HKD 16.50 to HKD 10.50 and cut its rating from Overweight to Market Perform in a report dated October 13, 2026, according to AASTOCKS. The new target lies 12.06 percent above the HKD 9.37 share price from the latest completed HKEX session.

Haidilao stock was last at HKD 9.37 on HKEX on October 16, 2026 at 4:08 p.m. HKT, up 0.21 percent on the day. Hong Kong trading was closed on October 17, 2026, leaving the October 16 quotation as the latest completed session.

First-half revenue reached CNY 22.30 billion

The operating picture gives the valuation discussion a measurable base. In the first half of 2026, revenue rose 7.90 percent year over year to CNY 22.30 billion, while net income was CNY 1.77 billion and earnings per share were CNY 0.33. Simply Wall St reported the figures on a page updated October 16, 2026, citing the first-half reporting period.

The same report put the first-half profit margin at 7.90 percent, down from 8.50 percent in the comparable period. Higher expenses explain the margin contraction, so the revenue increase did not translate into a wider profit margin.

Stock sits 4.93 percent above its low

Haidilao's HKEX price ranged from HKD 8.93 to HKD 17.86 over the previous 52 weeks as of October 16, 2026. At HKD 9.37, the stock stood 4.93 percent above the low and 47.53 percent below the high. The one-year performance was minus 27.50 percent, while the seven-day performance was minus 2.10 percent.

Valuation and dates

Market capitalization stood at HKD 50.7 billion on October 16, 2026, with a price-to-earnings ratio of 10.91 and a dividend yield of 0.08 percent. The latest scheduled reporting date visible in the reviewed company coverage was August 25, 2026 for the first-half results, which have already been published.

Comparison with peers

Haidilao: plus 0.21 percent, price-to-earnings ratio 10.91, market capitalization HKD 50.7 billion

Yum China (HKEX, HKD): plus 2.27 percent, price-to-earnings ratio 16.59, market capitalization HKD 121.6 billion

What the target implies

Morgan Stanley's revised target is materially above the latest HKEX price, but its accompanying downgrade makes the comparison more cautious than a simple upside calculation. The central operating counterweight is the 0.60 percentage-point decline in the first-half profit margin.

Haidilao stock was last at HKD 9.37 on HKEX on October 16, 2026 at 4:08 p.m. HKT, up 0.21 percent on the day.