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<Research>BOCI Maintains Positive View on ANTA SPORTS (02020.HK), Expects It to Continue to Outrun Peers
Recommend 3 Positive 7 Negative 3 |
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ANTA SPORTS (02020.HK)'s 1FQ24 operating performance was in line with market expectations to some extent, given the Company's high base in 2023, BOCI released a research report saying. BOCI also expected ANTA SPORTS' retail sales growth to accelerate in the coming quarters, mainly due to the Company's increased efforts in launching its products in the approaching Paris Olympics. Therefore, BOCI believed that the risk of ANTA SPORTS missing its guidance should be manageable, but some time is needed to see the results. BOCI remained optimistic on ANTA SPORTS, and expected the Company to continue to outperform its peers with its strong product offerings. In addition, BOCI said that ANTA SPORTS' improved operational metrics laid a good foundation for the Company, and believed that ANTA SPORTS' expectations are reasonable, mainly due to the Company's success in reducing inventories to a more reasonable level in 1FQ24, with better retail discounts. Therefore, BOCI kept its FY2024 revenue growth forecast at 14%, and expected the Company to realize more sales volume in 2H24. BOCI also expected its core brands to grow by around 10% YoY, and kept rating on ANTA SPORTS at Buy, with a target price of $97.5. AAStocks Financial News |
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