Daiwa: Reiterates 'Buy' Rating on Anta Sports, Target Price Raised to HKD 110

Data Gold January 10 news, Daiwa released a research report stating that the target price of Anta Sports (02020.HK) was raised by 2%, from 108 Hong Kong dollars to 110 Hong Kong dollars; reiterating a “buy” rating, as the preferred stock for mainland consumer zona. The report stated that Anta’s last quarter operating data was strong and better than expected, with significant positive surprises in FILA retail sales (RSV) rapid recovery. The core brand itself is expected to continue its overseas expansion this year. Management expressed relative confidence in this year’s prospects during the analyst conference call and is more optimistic about overseas expansion. Daiwa stated that based on encouraging sales trends, the company’s 2024-25 earnings per share forecast was raised by 1-2%, while the company’s target price was raised, with a forecast P/E ratio maintained at 20 times, reiterating the investment rating.