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Xinyi Glass downgraded to Neutral from Buy at Citi

Citi analyst Beatrice Lam downgraded Xinyi Glass (XYIGF) to Neutral from Buy with a price target of HK$7.55, down from HK$9.60. The firm cites the company’s negative profit warning and more conservative medium- to long-term assumptions given the lingering economic and property market weakness in China for the downgrade.

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