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<Research>M Stanley: Mkt Overlooks Positive Signals from Nike Results for SHENZHOU INTL (02313.HK); Rating Overweight
Recommend 7 Positive 11 Negative 5 |
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Nike (NKE.US) announced its 2FQ26 results, dragging down SHENZHOU INTL (02313.HK)'s performance, according to Morgan Stanley's research report. However, the broker believed that the market may have overlooked positive signals for SHENZHOU INTL in Nike's results. Morgan Stanley believed that the market tends to view SHENZHOU INTL as a representative of the sportswear sector in mainland China, but over 75% of its sales come from markets outside China, which should benefit from the resilience in other markets. Recently, SHENZHOU INTL's share price declined, providing a good opportunity to add to positions. Therefore, the broker now rated SHENZHOU INTL at Overweight, with a target price of $72. AASTOCKS Financial News Website: www.aastocks.com |
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