Baozun price target lowered to $3.80 from $4.60 at Citi

Citi lowered the firm’s price target on Baozun to $3.80 from $4.60 and keeps a Buy rating on the shares. Amid a “relatively muted” Singles Day performance for large e-commerce platforms as a result of cautious consumption trends, Baozun’s product and services revenues growth will also reflect the muted promotional campaign, the analyst tells investors in a research note.