[ET Net News Agency, 29 September 2021] HSBC Global Research lowered its target price
for ND Paper (02689) to HK$13 from HK$16.4 and maintained its "buy" rating.
The research house said it lowers its earnings estimates for FY22e and FY23e as it now
assumes that higher unit costs cannot be completely passed through due to the lacklustre
demand outlook. (RC)