[ET Net News Agency, 9 June 2021] Credit Suisse lifted its target price for Anta Sports
(02020) to HK$189 from HK$154 and maintained its "outperform" rating.
The research house noted key highlights from Credit Suisse's conference call: (1) Anta's
reform is underway; with efforts to premiumise the brand and launch of Anta Guoqi stores,
(2) Fila to double its revenue in the next five years on increasing store productivity and
store openings for Fila Kids and Fila Fusion, and (3) Amer will continue to open stores
across the portfolio in 2H 2020.
Credit Suisse raised its revenue estimates by 2%/6%. It expects operating margin to be
at 24.9%/26.3% in 2021/22, resulting in a 3%/6% uplift in its 2021/22 net profit
estimates. (KL)