UBS: Reduces target price of China Aerospace Machinery and Electronics Corporation (02357.HK) to 5 Hong Kong dollars, maintains "buy" rating.

According to the financial news app, Citi News, UBS released a research report stating that AVIC Aircraft (02357.HK) saw a 11.4% year-on-year increase in revenue to 37.5 billion RMB in the first half of the year, but net profit fell by 18% to 1.03 billion RMB, which was below the bank and market expectations. UBS has lowered the target price for AVIC Aircraft from 5.7 HKD to 5 HKD and maintained a "buy" rating.