Gelonghui, December 25 | J.P. Morgan Chase released a research report saying that the target price of regulated paper was lowered by 14% from HK$2.9 to HK$2.5. The rating was “in sync with the market”. The overall paper market is still under pressure due to weak demand and increased supply. The bank expects that paper prices will still be under pressure in 2024 because there are still about 4.1 million tons of additional production capacity waiting to be increased in the market, and demand is slowly recovering. As a result, the company's profit margin may continue to face resistance brought about by weak industrial fundamentals.
大行评级｜摩根大通：下调理文造纸目标价至2.5港元 评级“与大市同步”
Bank Ratings｜J.P. Morgan: Lowering the target price of Wenwen Paper to HK$2.5 “in sync with the market”
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