Goldman Sachs downgrade net profit forecast of Phoenix

With Q3 earnings of Phoenix satellite Television (8002) being much worse-than-expectation, Goldman Sachs downward adjusted its net profit forecast in 2001, 2002 and 2003 by 24%, 43% and 20% to HK$69 mln, HK$100 mln and HK$200 mln respectively but maintained ratings as ˇ§leading the marketˇ¨.

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