[ET Net News Agency, 14 February 2024] Morgan Stanley lowered the target price for
Tongrentang (01666) to HKD6.8 from HKD7.8 and maintained the "equal-weight" rating.
The research house said following a preliminary earnings announcement for 2023, it cuts
2023-2030 earnings estimates by 5-11% on lower sales and gross margin assumptions. (RC)