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<Research>CMSI Trims XTEP INT'L (01368.HK) TP to $5.5; 1Q Progress on Track to Full-Yr Target
Recommend 4 Positive 6 Negative 3 |
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Despite uncertainties in the macro environment, XTEP INT'L (01368.HK) recorded low single-digit growth in retail sales in 1Q26, in line with expectations, reflecting the Company's resilient fundamentals amid macro environment volatility, CMSI published a research report saying. Beyond sales momentum, management reiterated unchanged 2026 outlook in the post-results announcement call, CMSI noted. It is worth noting that, as the Company accelerates its transition to a direct-to-consumer (DTC) model, with plans to complete the transformation of 500 stores, operating margin is expected to come under pressure this year. Taking into account the impact of the DTC transformation, CMSI lowered its 2026/ 2027 operating profit forecasts for the Company by 17%. Therefore, the broker trimmed its target price from $7.7 to $5.5, with rating reiterated at Overweight. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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