UBS: Cuts China National Building Material (03323.HK) target price to HK$7, maintains "Buy" rating.

Zhitong Finance APP has learned that UBS issued a research report stating that it has lowered the target price of China National Building Material (03323.HK) from HK$7.64 to HK$7, maintained the "Buy" rating, and respectively cut its earnings forecasts for this year and next year by 95% and 30%. The bank expects that the company's cement business will still record a loss this year, dragging down overall profitability.