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20833 MBLININ@EC2508A (CALL)
RT Nominal down0.035 -0.002 (-5.405%)

11/01/2024 14:32

{I-bank focus}Citi lowers Li Ning (02331) to HKD28.5

[ET Net News Agency, 11 January 2024] Citi lowered its target price for Li Ning (02331)
to HKD28.5 from HKD35.5 and maintained its "buy" rating.
The research house said it has trimmed 2023 NP forecast by 4% on a 2% cut to its sales
projection, due to a weak retail environment in 4Q23.
Given the uncertain macro environment, it takes a more prudent view on domestic brands'
sales outlook over 2024-25 and trims top-line forecasts by 5%/8% for 2024/25. (RC)

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