[ET Net News Agency, 20 January 2020] UBS Global Research lifted its target price for
Anta Sports Products (02020) to HK$88.74 from HK$86.54 and maintained its "buy" rating.
The research house said Anta announced better-than-expected 4Q results, with the retail
of Anta-branded products up high-teens and FILA retail sales up 50-55%. An earlier spring
festival this year along with the company's early preparation for a mild winter (by adding
more shoes and IP cooperation products) helped the sales trend.
UBS slightly raised its revenue forecast by 2.5%/2.2%/1.3% in 2019/20/21 to reflect
FILA's strong momentum and Anta core brand improvement. (KL)