CMSC International has issued a research report stating that ANTA Sports (02020) has maintained its full-year targets unchanged, with the resilience of its multi-brand operations standing out. The firm reiterates its "Overweight" rating on ANTA Sports with a target price of HK$93.
The report notes that ANTA completed the acquisition of a 29% stake in Puma on October 7, earlier than the previously expected completion in the fourth quarter.
CMSC International believes that leveraging ANTA's multi-brand operational capabilities, the Puma acquisition will bring long-term synergies and help fill gaps in core sports categories such as football.
In the third quarter, ANTA Sports' other brands recorded retail sales growth of 25% to 30% year-on-year.
Comments