＜Research＞Daiwa Downgrades FLAT GLASS (06865.HK) to Hold, Trims TP to $12

　　Daiwa issued a research report downgrading FLAT GLASS (06865.HK) +0.020 (+0.185%) Short selling $25.74M; Ratio 27.101% 's H-shares to Hold from Outperform, and trimming its target price to $12 from $16, mainly due to the negative readings from the preliminary 1H24 results of its peer, XINYI SOLAR (00968.HK) -0.110 (-2.965%) Short selling $56.57M; Ratio 27.003% , and the lack of a favorable turnaround for the photovoltaic (PV) glass supplier for now, as average selling prices may be weak in July. Daiwa also lowered its 2024-2026 earnings forecasts for FLAT GLASS by 5-13%.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-02 16:25.)

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