JPMorgan released a research report stating that ANTA SPORTS (02020)'s operational performance in the fourth quarter of 2025 met expectations, with the FILA brand and other brands maintaining their growth momentum. The firm reiterated its "Overweight" rating on ANTA and a target price of HK$141. The report pointed out that since the start of the 2026 fiscal year, the performance of the core ANTA brand from January onwards has aligned with projections. The bank considers management's preliminary outlook for retail sales to be pragmatic: the core ANTA brand is expected to achieve positive growth, the FILA brand will continue the trend seen in 2025, while other brands are anticipated to record normalized growth. JPMorgan maintained its profit forecast for ANTA for the year 2025.
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