[ET Net News Agency, 12 October 2018] HSBC Global Research lowered its target price for
Anta Sports (02020) to HK$48.3 from HK$52.8, and maintained its "buy" rating.
The research house said Anta 3Q operational updates exceeded HSBC's expectations.
Anta-branded retail sales were up by mid-teens yoy, against HSBC'sexpectation of
low-teens. As Mid-Autumn Festival fell in September this year rather than October last
year, HSBC estimated it contributed 4ppt to the mid-teens growth of Anta brand during the
quarter.
HSBC believes recent share price was also driven by uncertainties in financing the
potential acquisition of Amer. (KL)