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Miniso price target lowered to $16.50 from $17.10 at BofA

BofA lowered the firm’s price target on Miniso (MNSO) to $16.50 from $17.10 and keeps an Underperform rating on the shares. The firm views the company’s Q1 report as “mixed bag” as it missed on margins. It expects Miniso’s direct-to-consumer business to depress near-term profitability.

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