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<Research>JPM Keeps Overweight on ANTA SPORTS with TP Cut to HKD130; Mke Shr Expected to Further Expand
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ANTA SPORTS (02020.HK)'s 2025 results met expectations, with sales and core earnings growing by 13% and 14% YoY, respectively, according to a report from JPMorgan. The company guided that this year's core ANTA brand retail sales will see low single-digit growth, with an operating profit margin of about 20%, FILA retail sales will record mid-single-digit growth, with an operating profit margin of about 25%, and other brand retail sales will grow by more than 20%, with an operating profit margin of over 25%. While some investors consider ANTA SPORTS' guidance too conservative, JPMorgan believes it is realistic and highly visible, and the company's market share will further increase this year. JPMorgan lowered its target price for ANTA SPORTS from HKD141 to HKD130 but kept the Overweight rating unchanged. AAStocks Financial News |
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