BOSIDENG (03998) maintained OP with TP cut to HK$2.7 by Macquarie
Macquarie said gross profit margin of BOSIDENG increased, which offset the hike in general administrative costs. It lowered its 2013 and 2014 earnings forecasts for BOSIDENG by 5% and 6% respectively. BOSIDENG was maintained Outperform with target cut by 4% to HK$2.7.
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