HSBC Global Research lowered its target price for JNBY (03306) to HK$12 from HK$20 and downgraded its rating to "hold" from "buy".
The research house said it expects FY22e overall revenue to decline by 10% YoY with the two childrenswear brands (jnby by JNBY and Pomme de terre) revenue to decline by 28-29% YoY.
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