[ET Net News Agency, 21 December 2023] Morgan Stanley lowered its target price for Lee
& Man Paper (02314) to HKD2.5 from HKD2.9 and maintained its "equal-weight" rating.
The research house said effective immediately, it is discontinuing coverage of Lee & Man
Paper, due to a reallocation of resources.
It thinks a stronger economic recovery in both domestic and overseas markets helps Lee &
Man Paper's sales, while supply-side discipline eases market price pressure and opens up
potential upside for the stock. (RC)