[ET Net News Agency, 11 July 2024] Macquarie lowered the target price for Nongfu Spring
(09633) to HKD26 and downgraded the rating to "underperform".
The research house said it lowers FY24/25/26E net profit by 20.4%/28.0%/30.8% to factor
the moderating growth outlook and heavy promotions. (rc)