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<Research>CMSI Trims XTEP INT'L (01368.HK) TP to $5.5; 1Q Progress on Track to Full-Yr Target
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 Compan...
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<Research>CMSI Trims XTEP INT'L (01368.HK) TP to $5.5; 1Q Progress on Track to Full-Yr Target
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Despite uncertainties in the macro environment, XTEP INT'L (01368.HK)  -0.060 (-1.429%)    Short selling $7.11M; Ratio 19.838%   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.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-22 16:25.)

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