Nongfu Spring stock: Morgan Stanley keeps HKD 45.00 for Nongfu Spring stock
Published on 10/19/2026 at 17:31 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSAnalyst target and operating figures
- On October 16, 2026, Morgan Stanley kept its Hold rating and set a HKD 45.00 target.
- Revenue reached RMB 29.718 billion in the first half of 2026.
- Nongfu Spring stock costs EUR 4.66 at Lang & Schwarz on October 19, 2026 at 5:14 p.m. CEST.
- The price-to-earnings ratio was 23.22 on October 16, 2026.
On October 16, 2026, Morgan Stanley analyst Lillian Lou kept a Hold rating on Nongfu Spring and set a HKD 45.00 price target. The target stood 8.75 percent above the HKD 41.38 closing price cited by Markets Insider. At Lang & Schwarz, Nongfu Spring was trading at EUR 4.66 on October 19, 2026 at 5:14 p.m. CEST.
Revenue growth stays beverage-led
The latest reported period was the first half of 2026. Revenue reached RMB 29.718 billion, up 16.00 percent from the same period a year earlier, while profit attributable to owners rose 16.60 percent to RMB 8.887 billion, according to FilingReader. Gross profit increased 17.10 percent to RMB 18.099 billion, and the gross margin reached 60.90 percent.
Price position and trading range
The HKEX share price was HKD 41.20 on October 16, 2026 at 4:08 p.m. HKT, down 0.43 percent from HKD 41.38. The 52-week range was HKD 37.90 to HKD 56.25, putting the price 8.71 percent above its low and 26.76 percent below its high. Market capitalization was HKD 463.4 billion.
Valuation and dated targets
Nongfu Spring had a price-to-earnings ratio of 23.22 on October 16, 2026. Morgan Stanley's HKD 45.00 target provides a dated comparison for the stock, while its Hold rating offers a more cautious signal than the broader beverage growth figures reported for the first half.
Comparison with peers
Nongfu Spring (HKEX, HKD): minus 0.43 percent, P/E 23.22, market capitalization HKD 463.4 billion
Tingyi (HKEX, HKD): plus 0.57 percent, P/E 12.55, market capitalization HKD 69.7 billion
Eastroc Beverage (HKEX, HKD): plus 1.83 percent, P/E 16.61, market capitalization HKD 87.2 billion
Trading perspective
The gap between the HKD 45.00 target and the HKD 41.38 closing price leaves the analyst comparison above the latest Hong Kong quote. The market picture combines double-digit first-half revenue growth with a valuation multiple higher than those of the two listed beverage peers.
Nongfu Spring was trading at EUR 4.66 at Lang & Schwarz on October 19, 2026 at 5:14 p.m. CEST.
The further course of trading is shown by the continuously updated real-time quote of Nongfu Spring stock.
Nongfu Spring market data
- Company: Nongfu Spring Co., Ltd.
- ISIN: CNE100004272
- Ticker: 9633
- Primary exchange: HKEX
- Price Lang & Schwarz (as of October 19, 2026, 5:14 p.m. CEST): EUR 4.66
- Market capitalization: HKD 463.4 billion (as of October 16, 2026)
- 52-week range: HKD 37.90-56.25 (as of October 16, 2026)
- Sector / Industry: Consumer Defensive / Beverages - Non-Alcoholic
Market context: Current market reports.
