Anta Sports' Sales Growth May Accelerate in Coming Quarters -- Market Talk

Dow Jones03-28

0524 GMT - Anta Sports should post higher sales growth in coming quarters on a gradual consumption recovery and relatively easier comparison base in 2H, CCB International analysts Anita Chu and Anita Du say in a note. For 1Q, solid Lunar New Year sales may be offset by volatility after the holiday and a high base last year, they say, projecting high-single-digit sales growth for the quarter. CCB is "conservative on the subject of margin expansion in FY24F due to investments during an Olympics year." CCB raises its 2024 core earnings forecast by 5% after a strong 2023 performance and factoring in a higher 2024 margin assumption. It raises the target to HK$103.00 from HK$101.00 while maintaining an outperform rating on the stock, which is last at HK$84.55. (hoishan.chan@wsj.com)

(END) Dow Jones Newswires

March 28, 2024 01:24 ET (05:24 GMT)

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