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UPDATE: JPMorgan Upgrades Baozun (BZUN) to Neutral

May 16, 2022 3:31 AM EDT
Get Alerts BZUN Hot Sheet
Price: $8.53 -3.51%

Rating Summary:
    7 Buy, 7 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 6 | Down: 18 | New: 52
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(Updated - May 16, 2022 5:19 AM EDT)

JPMorgan analyst Andre Chang upgraded Baozun (NASDAQ: BZUN) from Underweight to Neutral with a price target of $8.00 (from $5.00).

The analyst comments "Baozun sees the greatest downward earnings revisions in our ecommerce coverage, given over 70% of its GMV is from discretionary categories (apparel, electronics, luxury, etc.) and its brand customers will cut back fee for Baozun's services on lower need for marketing and rebates on lower sales volume. On the positive side, the share price is trading at 10x 2022E PE on earnings hit by city lockdowns, meaning the valuation is attractive into 2H22/2023 when the demand recovers. Its announced buyback plan of US$255m has reached nearly 50% of its current market cap, offering good support for share price downside. Upgrade to Neutral with a new Dec22 PT of US$8."

For an analyst ratings summary and ratings history on Baozun click here. For more ratings news on Baozun click here.

Shares of Baozun closed at $7.64 yesterday.


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