Furui: Downgrades Kingsoft Software (03888.HK) target price to 42.8 Hong Kong dollars. First quarter performance lower than expected.

According to the Securities Times APP, Furui released a research report stating that Kingsoft Corporation's (03888.HK) first quarter revenue and adjusted profit were both lower than expected. The bank has lowered its second quarter revenue forecast and revised its target price from 43.3 Hong Kong dollars to 42.8 Hong Kong dollars, while maintaining a "buy" rating.