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<Research>CLSA Trims ANTA SPORTS TP to HKD103 with Lower Earnings Forecast
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ANTA SPORTS (02020.HK)'s 2025 sales and recurring net profit beat expectations, and the sales guidance for this year is also better than market concerns, CLSA wrote in its research report. CLSA expects ANTA SPORTS' overall sales to grow by 9% this year, with ANTA brand, FILA, and other brands' sales increasing by 3%, 5%, and 24%, respectively. The broker has also raised its ANTA SPORTS sales forecast for 2026-27 by 4-5% and lowered the net profit forecast by 2-3% to reflect reduced interest income and expanded losses after the full-year accounting of Jack Wolfskin. ANTA SPORTS' rating remains Outperform, but its target price has been cut from HKD110 to HKD103, given short-term earnings volatility. AAStocks Financial News |
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