The analyst downgraded XTEP INT'L's stock rating from Outperform to Hold due to a slowdown in retail sales value in the sportswear industry, increased month-over-month volatility, and challenges in the core brand's transformation that may impact short-term revenue and margins. Additionally, the EPS forecast for 2026 was reduced by about 12%, and the target price was lowered from HKD5.2 to HKD3.9.
