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<Research>M Stanley: LI NING Signing Steph Curry Strategically Positive; Rating Overweight Kept
Recommend 10 Positive 11 Negative 20 |
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LI NING (02331.HK) has signed a long-term endorsement agreement with Golden State Warriors star Stephen Curry and established a partnership with Curry Brand, covering basketball, golf and lifestyle products, Morgan Stanley said in its report. If LI NING achieves its high-single-digit revenue growth target this year, the signing of Curry and Curry Brand will be regarded as a clearly positive strategic factor and could boost investment sentiment, in the broker's view. Curry Brand plans to sign more athletes over time, the report mentioned. Morgan Stanley believed its operating model may be similar to LI NING's Way of Wade series. LI NING signed Dwyane Wade in 2012-13, and after Wade retired from the NBA in 2019, LI NING renewed a long-term contract in 2018. Since then, the series has remained an important component of LI NINGs basketball business, accounting for about one-third of segment sales. The broker expected LI NING's short-term share price to remain driven by demand and pricing, and maintained an Overweight rating with a TP of HKD26. AASTOCKS Financial News |
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