Jefferies analyst Mitsuko Miyasako downgraded Pola Orbis (PORBF) to Hold from Buy with a price target of 2,000 yen, down from 2,200 yen. The firm expects a continued recovery in the Japanese domestic cosmetics business and recommends focusing on inbound activity by Chinese visitors, and particularly on cosmetics as a sub-sector because of its large inbound impact. In a comparison of Chinese sales for coverage cosmetics in 2022, Shiseido (SSDOY) had the smallest decline when compared with Kose and Pola Orbis, said the firm.
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