CMSC International Retains Buy Rating on ANTA Sports with HK$93 Target Price

Deep News10-23

CMSC International has released a research report stating that ANTA Sports (02020) has maintained its full-year targets, with the resilience of its multi-brand operations standing out. The firm has retained its "Accumulate" 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. The firm believes that, leveraging ANTA's multi-brand operational capabilities, the Puma acquisition will generate long-term synergies and fill gaps in core sportswear categories such as football.

In the third quarter, ANTA Sports' other brands recorded year-on-year revenue growth of 25% to 30%.

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