[ET Net News Agency, 3 December 2020] Nomura raised its target price for Anta Sports
Products (02020) to HK$139.1 from HK$103 and maintained its "buy" rating.
The research house said Anta reported 53% online sales during the Double 11 online
festival, with sales reaching RMB2.8bn, another year of a record-high level. Offline
recovery was strong in October, with 30-40% growth during Golden Week.
Given the strong current sales momentum, Nomura expects the company's offline inventory
target to return to FY2019's level by end-FY2020. A healthier inventory level could imply
lesser discounts from FY2021 onwards, and Nomura believes its 56.4% FY2021 GPM forecast
could be met, along with the potential rise in functional sportswear demand. (KL)
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02020 ANTA SPORTS
Nominal 
81.150 -2.150 (-2.581%) Others
03/12/2020 15:40
{I-bank focus}Nomura raises Anta Sports (02020) to HK$139.1
| Remark: | Real time quote last updated: 16/04/2024 17:59 |
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