CICC International: Lowering the target price of Flat Glass (06865.HK) to HKD 11.30, maintaining a "buy" rating.

The Wisdom Financial APP has learned that CICC has released a research report stating that Fuyao Glass (06865.HK) has decreased its profit forecasts for the years 2025-2027 by 15%/10%/9% respectively, due to the excessive production of second and third line enterprises and the impact of equal tariffs on Vietnamese production capacity. At the same time, the target price was lowered by 16%, from HK$13.45 to HK$11.30, corresponding to a P/E ratio of 13.2 times in 2026. The rating remains at "buy".