Macquarie lowered the target price for Chow Tai Fook (01929) to HKD8.5 from HKD9.4 and maintained the "underperform" rating.
The research house said it lowers FY24E/FY25E/FY26E net profit 1.1%/7.3%/12.4% to factor in the weak SSSG trend and a cautious store opening target.
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