[ET Net News Agency, 15 January 2020] Credit Suisse raised its target price for Anta
Sports Products (02020) to HK$79 from HK$76 and maintained its "neutral" rating.
Anta held an investor call, giving details of its 4Q 2019 operational data and its new
issuance of a EUR1bn convertible bond.
The research house said overall 4Q retail sales were healthy. Anta's core brand retail
sales accelerated to high-double digits from mid-double digits in 3Q. Fila's growth was
also maintained at 50-55% while other brands grew 25-30% (3Q: 30-35%). For FY2019, Anta's
core brand grew in the mid-teens while Fila grew 55-60%.
Credit Suisse estimated potential stock dilution of 3% from the convertible bond
issuance could be a slight overhang in the near term on the share price. It lifted its
earnings forecasts by 3-4% in 2020-21, on interest savings from refinancing and slight
upwards revision on Anta's revenue growth. (KL)
|
|
|
|
|
|
|
|
|
|
Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
02020 ANTA SPORTS
Nominal 
90.000 +1.000 (+1.124%) Others
15/01/2020 17:50
{I-bank focus}Credit Suisse ups Anta Sports (02020) to HK$79
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
| Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service |