HSBC downgraded Shanghai Fosun to Hold from Buy with a price target of HK$20, down from HK$40. The analyst cut estimates for 2023 due to the high base in 2022 with large COVID-19-related revenue and continued uncertainties such as Gland Pharma’s recovery.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
