BofAS's analyst rating is influenced by the accelerated online growth in the beauty sector, driven by a strong start to the 618 shopping festival and earlier spot sales. However, due to a subdued consumption environment, the broker is cautious about the sustainability of this growth post-618. They adjusted earnings forecasts and target prices, maintaining a Buy rating on MAO GEPING due to its competitive positioning, while giving Neutral and Underperform ratings to PROYA and SH JAHWA respectively based on their risk-reward profiles and earnings visibility.
