The Zhitong Finance App learned that UBS released a research report stating that it will lower the target price of China Building Materials (03323.HK) from HK$7.64 to HK$7, maintain the “buy” rating, and lower the profit forecast for this year and next two years by 95% and 30%, respectively. The bank expects that the company's cement business will still record losses this year, dragging down overall profits.

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