---
title: "UBS lowers TOPSPORTS target price to 3.85 yuan, maintains \"Buy\" rating"
description: "UBS published a research report, lowering the target price for TOPSPORTS to 3.85 yuan, maintaining a \"Buy\" rating. The report pointed out that TOPSPORTS' total retail and wholesale sales in the third "
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/270562939.md"
published_at: "2025-12-23T02:52:31.000Z"
---

# UBS lowers TOPSPORTS target price to 3.85 yuan, maintains "Buy" rating

> UBS published a research report, lowering the target price for TOPSPORTS to 3.85 yuan, maintaining a "Buy" rating. The report pointed out that TOPSPORTS' total retail and wholesale sales in the third fiscal quarter recorded a high single-digit decline year-on-year, which was below expectations. UBS lowered its net profit forecast for TOPSPORTS for the fiscal years 2026 to 2028 by 7% to 14% to reflect sales pressure

UBS published a research report indicating that TOPSPORTS (06110.HK) recorded a high single-digit year-on-year decline in total sales for its retail and wholesale business in the third fiscal quarter, which was below expectations. During the period, the retail business outperformed the wholesale business, and online performance continued to surpass offline performance, but the gap between the two narrowed due to base effects compared to the first half of the fiscal year 2026.

The bank lowered its net profit forecast for TOPSPORTS for the fiscal years 2026 to 2028 by 7% to 14% to reflect the company's sales pressure, and the target price was reduced from HKD 4.06 to HKD 3.85, maintaining a "Buy" rating

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