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UBS, in the latest research report, lowered its 2014-16 earnings forecasts for EVERGRANDE (03333.HK)  -0.010 (-0.337%)    Short selling $22.40M; Ratio 31.920%   by an average of 33%, to account for the preferred dividends of the company's perpetual capital instruments (PCI) and the widening loss from non-core business. The research house also cut the 2014-16 FY the compound annual growth rate (CAGR) to 11%, due to the expected lower operating margins on property development business and losses of non-core business.
Evergrande's rating was maintained at Sell, with a target price of $2.41 (down from $2.4

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