Mytheresa price target lowered to $6.50 from $8 at BofA

BofA analyst Geoffroy de Mendez lowered the firm’s price target on Mytheresa to $6.50 from $8 and keeps a Buy rating on the shares. While the firm thinks the short-term headwinds the multi-brand luxury industry faces “are real, the analyst contends that Mytheresa is resilient, differentiated, will be able to weather short-term headwinds and that its superior growth and margin profile are intact. The firm, however, is expecting back-end-loaded performance for FY24 and lower its estimates, which are now in line with consensus.