The analyst rating for OSL GROUP was downgraded to "Hold" by DBS Group Research due to several factors. The primary reason is the significant decline in Bitcoin prices, which fell by 24% in 4Q25, negatively impacting OSL GROUP's trading volume and revenue. As a result, the broker lowered its full-year revenue forecast for the company to approximately $560 million. Although there is an expectation that OSL GROUP will be included in the Southbound Trading of Stock Connects, the analyst noted that key positive factors have already been largely reflected in the stock price, and there remains a short-term overhang from the poor trading performance in 4Q25. Additionally, the expected revenue compound annual growth rate (CAGR) for FY2024-2026 was revised down to approximately 64%, from a previous estimate of 77%.
