Super Hi initiated with an Overweight at Morgan Stanley

Morgan Stanley initiated coverage of Super Hi with an Overweight rating and $21 price target. Super Hi is the overseas operator of Haidilao brand hotpot restaurants outside Greater China, an independent entity and a sister company of Haidilao, and the third-largest Chinese cuisine brand in international markets by revenue. The firm is “optimistic” Super Hi can gain market share overseas given its established brand name and a more favorable competitive landscape, the analyst tells investors.