Goldman Sachs: Reiterates ANTA SPORTS "Buy" Rating, Expects Improved Profit Visibility

Goldman Sachs released a research report stating that Anta Sports' mid-term core operating profit and net profit both exceeded expectations. The management adjusted Anta's core brand sales guidance to a mid-single-digit growth, while maintaining the full-year guidance for the Fila brand. The bank raised Anta's target price from HKD 117 to HKD 121, reiterating its "Buy" rating. Goldman Sachs believes that the management's comments were not unexpected for investors. Goldman Sachs pointed out that the mid-term performance reflects the successful execution of Anta's multi-brand strategy, with the company prioritizing investment in existing businesses, actively exploring acquisition targets to supplement the current portfolio, maintaining a stable dividend payout ratio and repurchase plan, and expecting improved visibility in sales and profits, with a positive outlook on sustainable market share growth