Mytheresa price target lowered to $8 from $14 at BofA

BofA lowered the firm’s price target on Mytheresa to $8 from $14 and keeps a Buy rating on the shares. Shares have fallen by about 50% since April’s guidance cut, which the firm sees offering “a particularly interesting entry point” given its view that the group continues to offer the ” rare attributes in online retail” of double digit growth, profitability and positive cash generation. However, the firm cuts its estimates as promotional intensity in Q3 pressured margins.