The analyst rating for MNSO (09896.HK) was maintained as "Outperform" by CICC due to the company's 3Q25 revenue and adjusted net profit growth of 28% and 12% year-over-year, respectively, which met expectations. However, the target price was cut to HKD50.18 due to industry valuation adjustments, while the adjusted net profit forecast for 2026 was lowered by 4%.
