Goldman Sachs raised its target price for Li Ning Co. (02331) to HK$31.6 from HK$24 and maintained its "buy" rating.
The research house remains constructive on the China sportswear industry, with resilient near-term data points and various drivers to support secular growth opportunities, such as supportive government policy, and consumers' trading up, demand for better designed and more functional products.
Goldman believes Li Ning is well positioned for market shares gains due to its strong brand recognition on top of its efforts at enhancing its product offering, retail upgrades, and improving operational efficiency.
Goldman raised its 2019-21 net profit forecasts by 1-9% to factor in expected better sales and margins.
全新etnet健康網購,送你【健骨維他命D3(1000IU)】乙樽(價值$108)► 立即行動!