Market Insight

2024.07.09 10:57

Research Reports CCB International lowers ANTA SPORTS(02020)target

(Infocast News) CCB International lowered target price on ANTA SPORTS(02020) from HK$103.00 to HK$86.00 based on a target multiple of 17x FY24F P/E (vs 20x previously) and maintained Outperform rating on undemanding valuation. CCB International lowered their FY24F/25F/26F earnings forecast by 2%/5%/7% to reflect slower revenue growth and margin expansion. They looked for a 17% three-year CAGR for core earnings. ANTA remained their top pick in the sector based on its better-than-peers’ earnings growth profile, its effective multi-brand strategy, and its strong execution capability. (SY)

Data Source：INF