Morogan Stanley downgrades target price of Dah Sing to HK$48

A report of Morgan Stanley Dean Writter pointed out that Dah Sing Financial Holdings (0440)¡¦s earnings will be up 0.5% per share this year but down 0.7% next year. Morgan maintained the rating of Da Sing Financial as ¡§buying¡¨ and downgraded 12-month target price from HK$50 to HK$48.

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