Citi lowered its target price for Yue Yuen Ind (00551) to HK$14 from HK$23 and downgraded its rating to "sell" from "buy".
The research house said it reduces its 2021/22/23 earnings estimates by 8%/19%/20% and TP to HK$14 based on a 9x PE for 2022E.
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