Morgan Stanley: Raise Li Ning's target price to HK $99, rating overweight

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Morgan Stanley: Raise Li Ning's target price to HK $99, rating overweight

金十数据2021-06-28

Morgan Stanley issued a report stating that Li Ning (02331. HK) 's sales growth has led to an improvement in profitability, and its net profit margin is expected to reach 18% by 2023. The company's single-brand strategy is the main factor for its strong operating leverage. Under the high sales base, it is believed that the profit will still improve from 2022 to 2023, recording a 30% growth. It is rated overweight and the target price is raised from 71 yuan to 99 Hong Kong dollar. The bank estimates that Li Ning's revenue and retail sales in the first half of the year increased by 71% and 80% respectively, and its gross profit in the first half of the year is expected to increase by 3.2 percentage points to 52.7%, due to the reduction of discounts and discounts given to distributors. ...

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招财大佬
·2021-06-28
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梅西点球打飞
·2021-06-28
你自己增持去
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HK) 's sales growth has led to an improvement in profitability, and its net profit margin is expected to reach 18% by 2023. The company's single-brand strategy is the main factor for its strong operating leverage. Under the high sales base, it is believed that the profit will still improve from 2022 to 2023, recording a 30% growth. It is rated overweight and the target price is raised from 71 yuan to 99 Hong Kong dollar. 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