Li Ning's 3Q Better than Feared but 4Q Tone Looks Weak
Dow Jones10-27
0422 GMT - Li Ning's latest quarter update was better than anticipated, but the tone for 4Q remains weak, Deutsche Bank analyst Sammi Xu says in a note. Deeper discounts and lower average selling prices amid intensifying competition weighed on the running shoe market, while basketball, badminton and athleisure were also weak, the note says. While the overall channel mix improved in direct retail and e-commerce, total sell-through remained negative amid continued wholesale pressure. Deutsche Bank cuts its stock target price to 14.70 Hong Kong dollars from HK$15.20 with a hold rating. Shares are up 5.5% at HK$13.54.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments