Credit Suisse raised its target price for Anta Sports Products (02020) to HK$28 from HK$24.5 on rollover, and maintained its "outperform" rating.
The research house said Anta's 3Q 2017 trade fair orders increased by low single digit. It thinks trade fair order trend is no longer relevant as the firm targets to gradually increase replenishment while reducing trade fair orders.
CS believes Anta's 18x 2017/18 P/E is still reasonable in view of the current positive market sentiment.
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