[ET Net News Agency, 31 October 2023] Daiwa lowered its target price for NCI (01336) to
HKD16 from HKD24.8 and downgraded its rating to "underperform" from "outperform".
The research house said the new target price and rating are due to the vulnerable
earnings in an adverse equity market. Such impact has also been exacerbated by the new
accounting standard (IFRS 9). (RC)