Anta Sports' Solid 1H Results a Silver Lining for Sector

Dow Jones08-27 13:18

0518 GMT - Anta Sports Products' solid 1H results seems to one of the few silver linings in the Chinese sportswear sector's reporting season, say Nomura analysts in a note. Anta's operational improvement was reflected across its brand portfolio, as the company implemented operational changes to its businesses. The analysts are more confident in Anta's multibrand strategy and execution given its profitability despite sector headwinds, such as a slowdown in the running subsector, they say. They reckon Anta should be able to reach its 10 billion yuan overseas revenue goal within its planned five-year time frame. Nomura raises its target price to 91.40 Hong Kong dollars from HK$89.90 and maintains a buy rating. Shares drop 0.8% to HK$78.15.

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