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<Research>CLSA Lifts LI NING (02331.HK) TP to $18, Keeps Hold Rating; Earnings Recovery Path Still Unclear
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LI NING (02331.HK)'s 4Q25 retail sales were moderate, in line with expectations. while YTD sales have not picked up, according to CLSA's research report. CLSA believed that LI NING's earnings recovery path for FY2026 remains unclear, especially with rising investments related to the Olympics and Paralympics in 2026. The broker anticipated that conservative store expansion and discount pressures will persist. The next round of valuation re-rating requires more evidence to show that the Company's new initiatives can drive a rebound in retail sales. Therefore, CLSA lifted its target price from $16 to $18, with rating kept at Hold. AASTOCKS Financial News Website: www.aastocks.com |
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