Mips price target lowered to SEK 570 from SEK 600 at Jefferies

Jefferies analyst Adela Dashian lowered the firm’s price target on Mips to SEK 570 from SEK 600 and keeps a Buy rating on the shares. The analyst adopted a more cautious stance on the company’s Q2 results saying the slow start to the bike season brought on by a cold April has delayed retailers’ ability to reduce inventory levels. However, the firm reiterates a bullish long-term outlook for Mips, citing favorable underlying market trends and signs of an improvement in bike retail inventory levels towards the latter part of Q2.