[ET Net News Agency, 23 December 2021] UBS lowered its target price for Topsports
(06110) to HK$12.78 from HK$14.17 and maintained its "buy" rating.
The research house said it cuts DCF-derived price target to HK$12.78 to factor in the
sales miss and earnings cut of 2-7% for FY22-24E, implying 18x 2022E (FY23E) PE. (RC)