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UBS Group: Reiterates TOPSPORTS "Buy" rating, Target Price lowered to 3.6 Hong Kong dollars.
UBS Group released a research report stating that it reaffirmed TOPSPORTS (06110) with a "Buy" rating and downgraded the earnings per share forecast for 2025 to 2027 by 24% to 40% to reflect sales pressure and higher sales discounts, with the Target Price decreased from HKD 6.6 to HKD 3.6. TOPSPORTS' sales in the third quarter of the 2025 fiscal year fell mid-single digits year-on-year, with retail channels slightly outperforming wholesale and exceeding the bank's expectations; online sales grew double digits year-on-year. However, the management of TOPSPORTS maintained its guidance that the revenue and net profit for the 2025 fiscal year would decline year-on-year by high single digits and 35% to 45%, respectively. UBS Group indicated that although TOPSPORTS will face short-term challenges.
Shares of Financial Companies Are Trading Lower Amid Overall Market Weakness Following the Fed's Rate Decision to Cut Rates by 25 Basis Points.
Express News | Shares of Financial Companies Are Trading Lower Amid Overall Market Weakness Following the Fed's Rate Decision to Cut Rates by 25 Basis Points
UBS Sees Gold Rally Continuing In 2025
