Daiwa released a research report stating that it raised the target price of Anta Sports (02020) by 2% from HK$108 to HK$110; it reaffirmed its “buy” rating and is the preferred stock for the consumer goods sector in the mainland.
According to the report, Anta's operating data for the last quarter was strong and better than expected. Among them, the rapid recovery in FILA's retail sales (RSV) was a huge positive surprise. Our core brands are expected to continue expanding overseas this year. Management showed relative confidence in the outlook for this year and was more optimistic about overseas expansion during the analysts' conference call.
Yamato said that based on encouraging sales trends, it raised the company's 2024-25 earnings forecast per share by 1% to 2%, while raising the company's target price, keeping the forecast price-earnings ratio unchanged by 20 times, and reaffirming the investment rating.
