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<Research> Nomura Lowers Xtep (01368.HK) TP to HKD7.5, Maintains 'Buy' Rating
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Nomura released a research report indicating that Xtep (01368.HK) saw a 4% year-on-year increase in revenue last year, slightly below market and Nomura's expectations; net profit grew by 11% year-on-year, roughly in line with expectations. The firm anticipates intensified competition for Xtep's core brand, with Saucony contributing only a low double-digit percentage to the company's total revenue. Therefore, it is expected that the company's revenue will only rise by 4% year-on-year this year. The firm has revised down its revenue forecast for Xtep for 2026 to 2027 by 3% to 6%, and lowered its earnings forecast by 6% to 9%, reflecting more conservative sales growth expectations for the Xtep brand. The target price for the company has been reduced from HKD8.2 to HKD7.5, while maintaining a 'Buy' rating. (sl/da) Auto-translated by third-party software This translation was auto-generated by third-party software. 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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