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<Research>UOB Kay Hian Cuts ANTA SPORTS (02020.HK) TP to $108.8; Rating Buy
Recommend 5 Positive 12 Negative 7 |
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UOB Kay Hian's research report covered ANTA SPORTS (02020.HK), which achieved a 14% YoY revenue growth to RMB70.826 billion for 2024, surpassing expectations, though core profit met forecasts. The company's management lowered the sales target for the ANTA brand to HSD and cut the FILA sales target to MSD, aiming to maintain an operating margin of 25%. The broker kept its revenue forecast on the company for 2025 unchanged but reduced 2026’s forecast by 3%. It also trimmed its gross margin forecasts for 2025 and 2026 by 1 ppt each, and cut its profit forecasts for the company by 3% for 2025 and 6% for 2026. The target price was adjusted down from HKD120.6 to HKD108.8, with the Buy rating maintained. AAStocks Financial News |
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