[ET Net News Agency, 11 April 2018] HSBC Global Research lifted its target price for
Anta Sports (02020) to HK$46.9 from HK$43.8, and reiterated its "buy" rating.
The research house said Anta-branded retail sales growth maintained at 20-25% growth
rate during 1Q 2018, similar to the rate in 4Q 2017, and faster than low-teens at Xtep
(01368). E-commerce and kids continued strong momentum and grew at 40+%, while core brand
was up 15% with channel inventory now below four months of sales.
Fila retail sales were up 70% yoy. Including Descente, Sprandi and NBA, retail
sell-through growth on non-Anta business was at 80-85%.
After a solid 1Q, HSBC now expects sales growth to accelerate to 29%yoy driven primarily
by 40% growth in e-commerce, 36% in kids and Fila. Net net, it expects 27% earnings growth
in 2018. (KL)
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02020 ANTA SPORTS
Nominal 
89.350 +2.100 (+2.407%) Others
11/04/2018 16:46
[I-bank focus]HSBC lifts Anta Sports (02020) to HK$46.9
| Remark: | Real time quote last updated: 24/04/2024 17:59 |
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