Lyon: UBS lowers target price of China Unicom (00220.HK) to 10 Hong Kong dollars, maintains "outperform" rating.

According to the Wise Finance APP, Lyon released a research report stating that Uni-President China (00220.HK) has been affected by increased competition, as well as the introduction of subsidies by food delivery platforms, leading to a slowdown in sales growth in the third quarter, which is roughly flat year-on-year and basically meets market expectations. The company's management pointed out that the pressure on the beverage business in October continued to rise, but they still maintain the target of 6-8% sales growth for the year. The bank predicts that Uni-President's profit growth will slow down next year, but the dividend yield of 6.3% can support the stock price. The target price has been lowered from HK$10.5 to HK$10, and a "outperform" rating is maintained.