BofA Securities lowered its FY2025/2026 earnings forecasts for BOSIDENG due to a combination of factors, including a reduced OEM revenue forecast and a slower pace of offline expansion. The report highlighted several reasons for the weaker-than-expected growth, such as a warm winter, intense competition, a focus on optimizing the product mix towards core winter products, more conservative offline expansion strategies, and a decline in OEM business impacted by tariffs. Despite these challenges, BofA Securities maintained a "Buy" rating based on its own measures and the stock's undemanding valuation, while also cutting the target price by 15% to $4.6.
