{I-bank focus}UBS lowers Chow Tai Fook (01929) to HKD12.3

  UBS lowered the target price for Chow Tai Fook (01929) to HKD12.3 from HKD13.6 and maintained the "buy" rating.
  The research house said it cuts FY25-27E EPS by 4-12% factoring in pressured sector demand by volatile gold price in the near term, and CTF's store network optimization.