CLSA: Cuts Fuyao Glass (03606.HK) H-share target price by 9.5% to HK$67, maintains "Outperform" rating

CITIC CLSA released a research report stating that it has lowered the H-share target price of Fuyao Glass (03606.HK) by 9.5%, from HK$74 to HK$67, while also lowering the A-share target price, maintaining an "Outperform" rating. The bank expects weak passenger vehicle sales and exchange rate fluctuations to be the main drags on Fuyao Glass's earnings in 2026, although thanks to improved freight costs and insurance claim settlements, quarterly margins are expected to improve in the fourth quarter.