[ET Net News Agency, 8 November 2019] Huatai Research lowered its target price for
Uni-President China (UPC)(00220) to HK$7.8 from HK$8.2 and maintained its "hold" rating.
The research house said UPC announced a weaker-than-expected net profit of RMB425mn for
3Q. Huatai remains cautious about UPC, in light of rising raw material prices, fierce
market competition and lack of prevailing new products, which might erode UPC's margins in
the future.
As such, it revised down its 2019/2020 net profit forecasts by 7/7%. (KL)