[ET Net News Agency, 3 November 2023] UBS lowered its price target for Li Ning (02331)
to HKD39 from HKD43 and maintained its "buy" rating.
The research house said it cuts 2023-25E EPS by 7-8%, factoring in online pressure and
higher opex invested in direct channel relating to new stores opened in high-tier cities.
(RC)