[ET Net News Agency, 7 August 2019] Nomura raised its target price for Anta Sports
Products (02020) to HK$56.5 from HK$43.5 and maintained its "neutral" rating.
Anta reported a positive profit alert on 22 July. The research house estimated Anta's
1H GPM and OPM to expand 1.2pp y-y and 2.7pp, respectively. The slower bottom-line growth
versus operating profit was mainly due to the earnings dilution from Amer, given the
one-off acquisition-related transaction cost and share of loss from Amer in 2Q due to weak
sales seasons.
But Nomura expects FILA's growth to moderate in 2H, given the high base as well as the
slowdown in store openings (the company is only expecting 9-15% store count growth in
FY2019, versus 32% in FY2018). It raised FY2019-21 net profit by 8% after factoring in
stronger sales and better margin. (KL)
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02020 ANTA SPORTS
Nominal 
84.950 +3.350 (+4.105%) Others
07/08/2019 12:00
{I-bank focus}Nomura raises Anta Sports (02020) to HK$56.5
| Remark: | Real time quote last updated: 18/04/2024 17:59 |
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