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Investing.com - Morgan Stanley upgraded Global PMX Co Ltd (TPE:4551) stock rating from Equalweight to Overweight on Thursday, while significantly raising its price target to NT$211.00 from NT$112.00.
The Taiwan-based company has seen its shares rise 38% month-to-date, substantially outperforming the broader TAIEX index’s 3% gain during the same period.
Morgan Stanley cited improving consensus and rebuilding investor confidence after previous guidance misses as key factors behind the upgrade, suggesting "the time is ripe for investors to revisit the stock."
The investment bank raised its 2025-2027 earnings forecasts for Global PMX, projecting 26% year-over-year growth in 2025 (excluding foreign exchange losses), followed by 101% in 2026 and 8% in 2027.
The revised outlook reflects anticipated growth in the company’s technology and medical sales segments, alongside margin expansion due to improving product mix and operating leverage, according to Morgan Stanley.
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