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02020 ANTA SPORTS
RTNominal down80.600 -0.050 (-0.062%)
Others

09/07/2020 09:32

{I-bank focus}Morgan lifts Anta Sports (02020) to HK$95

[ET Net News Agency, 9 July 2020] Morgan Stanley lifted its target price for Anta
Sports Products (02020) to HK$95 from HK$76 and maintained its "overweight" rating.
The research house reduced its earnings forecasts by 5% for 2020 to factor in the loss
made by Amer Sports. But Morgan increased its earnings forecast for 2021 slightly, by 1%,
to factor in stronger online growth.
Morgan thinks buying on weakness will generate good returns on a 6- to 12-month horizon.
The stock is likely to remain volatile ahead of the 1H earnings, as Morgan thinks Anta's
decline in earnings could be quite significant in 1H, partly dragged by Amer Sports.
However, it thinks a potential V-shaped recovery in 2H and 2021 will drive the stock to
a new high. Morgan noted that the market is concerned over Amer Sports' non-China market,
but the research house thinks Amer's strong strength in outdoor activities and sportswear
equipment will be in a favorable position post the pandemic. (KL)

Remark: Real time quote last updated: 21/09/2020 11:24
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