＜Research＞Daiwa Downgrades CHOW TAI FOOK (01929.HK) to Underperform, Slashes TP to $7

　　Daiwa released a research report downgrading CHOW TAI FOOK (01929.HK) -0.450 (-5.689%) Short selling $7.15M; Ratio 18.703% from Buy to Underperform, and slashing its target price by half from $14 to $7 as the Company's retail sales value fell 20% YoY in the first financial quarter ended June.

　　Daiwa said that it originally thought that sales pressure would be mostly offset by the expansion of operating profit due to changes in product mix and cost cuts. Therefore, the broker did not downgrade the stock until the announcement of the 1FQ25 sales performance.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-23 16:25.)

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