0111 GMT - Baozun's 4Q outlook seems to be weak thanks to supply-chain disruptions and the possibility of muted 'Singles Day' sales in China due to slowing consumption, Citi says. The U.S. investment bank cuts its 4Q revenue estimates by 4.0% due to weaker sportswear demand, although it notes that the e-commerce service provider seems set to continue to gain share in the luxury market, which still sees solid demand. Demand from other markets such as healthcare and electronics could continue to be resilient, it says. Citi maintains its buy rating but lowers its ADR target price to $22.00 from $34.00. Baozun's ADRs last closed 4.3% higher at $19.71. (yiwei.wong@wsj.com)
Baozun's 4Q Outlook Seems Weak -- Market Talk
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