波司登：升目标价至6.3港元，评级“增持”-20260311

Investment Rating - The report maintains an "Overweight" rating for Bosideng (03998) and raises the target price from HKD 6 to HKD 6.3 [1] Core Insights - Bosideng's management anticipates a sales growth of 4% to 5% for the fiscal year ending March 2023, along with an expansion in net profit margin [1] - The report forecasts that Bosideng will regain growth momentum in the fiscal year 2027, driven by initiatives such as enhancing popular products, expanding new store formats, and further penetrating emerging markets [1]