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In a report, JP Morgan said that I.T (00999.HK)  -0.050 (-1.969%)   's operating profit excluding interest and tax was in line with the estimate. The broker took a more cautious view on the company's Hong Kong business, believing that the company is facing the risk of recording sluggish sales. Rating was downgraded from Overweight to Neutral, with target price lowered from $3.3 to $2.7. 

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