KE Holdings price target lowered to $24 from $27 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on KE Holdings (BEKE) to $24 from $27 and keeps an Overweight rating on the shares. Although the property market is affected by the uncertain macro environment, the firm believes KE Holdings’ market share gain in both existing home and new home remains intact. With more cost control and improving margins in the home renovation and rental businesses, Morgan Stanley expects better margins in the second half of 2025.