CCB International lowered the target price for Shenzhou Intl (02313) to HKD83 from HKD107 and maintained the "outperform" rating.
The research house said it looks for 8% revenue growth at Shenzhou in 2H24F driven by an order recovery at Puma and double-digit order growth at Adidas, Lululemon, and domestic sportswear brands.
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