JP Morgan: Raises BOSIDENG (03998) target price to HK$6.2, maintaining a "Buy" rating.
The line indicates that Bosideng is upgrading its sun protection clothing, added with new outdoor categories with detailed quantifiable metrics, the sales are expected to remain strong.
JPMorgan Chase released a research report stating that as of the end of March, BOSIDENG (03998) had doubled its retail sales to 1 billion RMB compared to the same period last year, and launched a new spring/summer collection covering sun protection clothing and new outdoor product categories. The bank said that with BOSIDENG upgrading its sun protection clothing and the introduction of new outdoor product categories with detailed quantitative indicators, it is expected that its sales will remain strong. The bank expects that the group's spring/summer collection sales for the fiscal year 2026 will show steady growth, and has raised its profit forecast for the fiscal years 2025 to 2027 by about 1%, with the target price slightly increased from 6.1 HKD to 6.2 HKD, maintaining a "buy" rating.
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