Li Ning Likely on Track for Earnings Recovery in 2H -- Market Talk

Dow Jones05-06

0445 GMT - Li Ning should be on track for an earnings recovery starting from 2H after its better-than-expected 1Q retail data, Citi analysts Xiaopo Wei and Vincent Yang say in a research note. The Chinese sportswear company's single-brand strategy may drive quicker-than-expected recovery when China's consumption improves, they say. Citi expects Li Ning's top-line growth to reaccelerate in 2H before returning to double digits in 2025 and 2026, and promotes it to its sector top buy. Li Ning's net profit could surge 27% in 2025 and 18% in 2026 on strong operating leverage, Citi says. The U.S. bank maintains a buy rating on Li Ning, but raises its target price to HK$32.70 from HK$28.50. Shares were last at HK$20.85. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

May 06, 2024 00:45 ET (04:45 GMT)

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