- Credit Suisse analyst Ashley Xu downgraded Baozun Inc BZUN to Underperform from Outperform with a price target of $23, down from $41, implying a 28% downside from Thursday's closing price of $31.87.
- Baozun has faced derating pressure due to a boycott against international apparel brands, the soft performance of Tmall, and a recent sector-wide correction over regulatory concerns.
- Xu sees additional risk from industry headwinds and continuously tightening regulations.
- She presumes a bumpy road ahead despite the company's strong execution.
- Price action: BZUN shares traded lower by 16.1% at $26.75 on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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