[ET Net News Agency, 15 July 2019] BofA Merrill Lynch said Anta Sports Products (02020)
posted another solid set of operational updates for 2Q, with accelerating Anta and solid
Fila.
The research house expects upcoming interim results (due 26 August) to be strong with
30%-plus revenue growth coupled with OPM expansion, though the consolidation of Amer JV
could negatively impact reported growth.
BofAML reiterated its "buy" rating and HK$61 target price, given the undemanding
valuation, solid organic growth, and long-term potential upside from Amer.
As for some recent short-seller reports that alleged weakness in Anta's corporate
governance controls and franchisee structure, BofAML said such allegations have been made
against the company in the past as well, but it has refuted the allegations in a public
announcement and has not restated any of its financial statements so far. (KL)
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02020 ANTA SPORTS
Nominal 
83.800 -1.150 (-1.354%) Others
15/07/2019 15:39
[I-bank focus]Anta's (02020) interim results likely strong
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