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<Research>UOB Kay Hian: ANTA SPORTS (02020.HK) 1Q Sales Satisfactory; High-quality Growth Intact
Recommend 3 Positive 7 Negative 1 |
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ANTA SPORTS (02020.HK)'s 1Q24 sales performance was satisfactory and in line with management's expectations, with sales in the second half of March exceling the group's internal target by 20%, although YoY growth in retail sales was slightly below the group's annual targets, mainly due to a high base, UOB Kay Hian wrote in its report. The management reiterated its full-year sales target and revealed that it will be more aggressive in launching new products in the coming quarters. The broker maintained its Buy rating and profit forecast on ANTA SPORTS, with a target price of $109.6. It kept the company the top pick in the sportswear sector, with optimism that the company's high-quality growth remains unchanged and that it has strong execution capabilities. AAStocks Financial News |
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