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<Research>CMBI Cuts ANTA SPORTS (02020.HK) TP to HKD111.54; 2Q Overall Retail Sales Slightly Miss
Recommend 5 Positive 8 Negative 5 |
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ANTA SPORTS (02020.HK) saw a slight miss in its overall retail sales growth in 2Q25, primarily affected by the Anta brand, CMBI released a research report as saying. Although the performance of other brands partially offset this impact, a larger negative effect came from increased discounts. The broker turned cautious on Anta's outlook for 2H25 and lowered its net profit forecasts for 2025-27 by 3%/ 5%/ 5%, respectively, to reflect more conservative GPM forecasts and operating leverage. The target price was chopped from HKD119.08 to HKD111.54. However, in wake of exceptionally strong growth in outdoor brands and a competitive advantage relative to peers, the broker kept a Buy rating. AASTOCKS Financial News Website: www.aastocks.com |
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