---
title: "Goldman Sachs lowers Anta's target price to 115 yuan, third-quarter performance weak and in line with expectations"
description: "Goldman Sachs has lowered the target price for ANTA SPORTS to 115 yuan due to its weak third-quarter performance, which met market expectations. Although niche brands performed steadily, the Fila bran"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/262991220.md"
published_at: "2025-10-28T02:01:01.000Z"
---

# Goldman Sachs lowers Anta's target price to 115 yuan, third-quarter performance weak and in line with expectations

> Goldman Sachs has lowered the target price for ANTA SPORTS to 115 yuan due to its weak third-quarter performance, which met market expectations. Although niche brands performed steadily, the Fila brand experienced slow growth due to the warm winter weather, maintaining a full-year revenue target in the mid-single digits. The growth of ANTA's main brand in the third quarter was below expectations, leading to a downward revision of the full-year revenue guidance. Goldman Sachs holds a positive view on ANTA's long-term growth prospects, believing that its multi-brand platform and cost control capabilities support its targets

Goldman Sachs published a report indicating that ANTA SPORTS (02020.HK) had weak performance in the third quarter, in line with the market's already lowered expectations and the more conservative statements from peers. Although niche brands performed steadily, the Fila brand was affected by the warm winter weather, achieving only low single-digit year-on-year growth, while the full-year revenue target remains in the mid-single digits; ANTA's main brand saw low single-digit year-on-year growth in the third quarter, underperforming expectations, and with weak sales momentum so far in the fourth quarter, the company has once again lowered its full-year revenue guidance from mid-single digits to low single digits.

On a positive note, the company continues to demonstrate strict cost control capabilities and is confident that the ANTA and Fila brands can achieve operating profit margins of 20-25% and 25%, respectively.

Goldman Sachs maintains a positive view on ANTA's long-term growth prospects, believing that its multi-brand platform advantages and strong cost control capabilities are sufficient to support this; it has lowered its earnings forecasts for 2025 to 2027 by 3 to 4%, reflecting a slowdown in growth for the ANTA and Fila brands. The target price has been reduced from 121 yuan to 115 yuan, maintaining a "Buy" (Conviction Buy List) rating

### Related Stocks

- [02020.HK - ANTA SPORTS](https://longbridge.com/en/quote/02020.HK.md)

## Related News & Research

| Title | Description | URL |
|-------|-------------|-----|
| 安踏體育產品獲得了安踏國際及其子公司的書面股東批准 | 安踏體育產品獲得安踏國際及其子公司的書面股東批准 | [Link](https://longbridge.com/en/news/275885036.md) |
| 安踏斥 140 億購近 3 成 Puma 股權溢價 62% | 安踏（2020）今日宣佈將斥資 15.1 億歐元（約 140 億港元）收購德國運動品牌 Puma 近三成股份，成為其最大股東。此次收購以每股 35 歐元的價格進行，較 Puma 週一收市價溢價 62%。安踏表示，此舉是推進其「單聚焦、多品牌 | [Link](https://longbridge.com/en/news/273771920.md) |
| 餘仁生 傳統中藥品牌數碼轉型 連結新世代與大灣區市場 | 餘仁生，歷史悠久的中藥品牌，憑藉數碼轉型在香港零售管理協會獲獎，展現其在新零售時代的成功。品牌通過社交媒體與網紅合作，提升消費者信任，並以自家 APP 提供無縫的線上線下購物體驗。餘仁生創新推廣中藥文化，吸引年輕一代，推出 IP 角色「丹丹 | [Link](https://longbridge.com/en/news/275825266.md) |
| 穎通控股與連卡佛合作 尖沙咀首建小眾香水專區 | 穎通控股（6883）與連卡佛合作，在尖沙咀設立小眾香水專區，聚焦高毛利香水品牌發展。此專區匯聚 Atkinsons、Clive Christian、Memo Paris 及 SOLFÉRINO 四大高端品牌，提升品牌在香港市場的滲透率。執行 | [Link](https://longbridge.com/en/news/275084652.md) |
| 06:30 ETDress for Success® Worldwide 啓動全球品牌煥新與宣傳活動 | Dress for Success Worldwide 今日宣佈推出全新全球品牌活動 “成功始於此刻”，標誌着該組織進入新階段，旨在提升女性經濟地位，重塑使命與形象。該組織致力於為職場女性提供專業着裝指導及職業發展支持，已幫助超過 130  | [Link](https://longbridge.com/en/news/276117187.md) |

---

> **Disclaimer**: This article is for reference only and does not constitute any investment advice.
