** Shares of pool and spa products retailer Leslie's LESL.O down 3.2% at $1.51 premarket

** BofA Global research downgrades stock to "underperform" from "buy" and cuts price objective to $1.40 from $2.65

** Brokerage says muted free cash flow generation limiting LESL's ability to pay down debt

** Average rating of 12 brokerages covering the stock is "hold", with median PT of $3 - LSEG

** Stock fell ~30% in 2025 as of last close, and ~68% in 2024

(Reporting by Joel Jose in Bengaluru)

((joeljose@thomsonreuters.com))