Daiwa: Reiterate Anta Sports' 'Buy' rating, with a target price raised to HK$110

Jin10 data, January 10th 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, the preferred stock for mainland consumer zone. The report stated that Anta’s last quarter operating data was strong and better than expected, with rapid recovery of FILA retail sales (RSV) as a huge positive surprise. Its core brand is expected to continue its overseas expansion this year. Management showed relatively confident prospects for this year and a more optimistic outlook for overseas expansion during the analyst conference call. Daiwa stated that based on encouraging sales trends, the company’s earnings per share forecast for 2024 to 2025 was raised by 1% to 2%, while the target price was also raised, maintaining a forecast P/E ratio of 20 times and reiterating the investment rating.