CMSC International: ANTA Sports (02020) Keeps "Overweight" Rating, Full-Year Targets Unchanged

Stock News10-22

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.

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