BOCOM INTL: ANTA SPORTS (02020) achieved steady improvement in overall business performance in the first half of the year, with a target price of 110.2 Hong Kong dollars.
The management team maintained the growth guidance for all brands throughout the year (Anta, FILA, and all other brands increased high single digits, mid single digits of 30%) compared to the same period last year.
BOCOM INTL released a research report stating that ANTA SPORTS (02020) overall business performance in the second half of the year is improving. The company maintains its revenue forecast for the next three years, with an expected net profit of 13.41 billion to 16.54 billion RMB from 2025 to 2027. Based on a 20 times price-earnings ratio in 2026, the target price is set at 110.2 Hong Kong dollars, with a "buy" rating.
The bank believes that in the second quarter of this year, ANTA SPORTS' brands Anta, FILA, and all other brands each achieved low single-digit, mid- single-digit, and 50% to 55% year-on-year revenue growth, respectively, in line with expectations. Management maintains the growth guidance for all brands for the entire year (Anta, FILA, all other brands year-on-year growth high single-digit, mid-single-digit 30%).
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