Anta Sports' 2024 Performance Outlook Appears Mixed -- Market Talk

Dow Jones03-27

0651 GMT - Anta Sports' performance outlook this year appears mixed given its moderating margin expansion momentum, volatile near-term demand and the latest earnings guidance from its unit, Amer Sports, Jefferies analysts say in a research note. Management expects near-term retail sales to remain volatile with demand decelerating after the Lunar New Year, they note. Meanwhile, management also sees more marketing spend due to the coming Summer Olympics and recent launch of Anta's Kyrie Irving signature basketball shoes, the analysts add. Jefferies lowers its 2024 revenue estimate to CNY71.46 billion from CNY74.82 billion earlier. It also lowers the stock's target to HK$135.00 from HK$150.00 and maintains a buy call. Shares last at HK$82.45. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

March 27, 2024 02:51 ET (06:51 GMT)

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