UBS: LI NING 1Q Sales In Line; Mgmt Expects Sales to Accelerate in 2H
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UBS reported that LI NINGachieved year-on-year growth in its adult brand line and overall retail sales in Q1, meeting expectations. LI NING YOUNG saw over 20% growth. Management anticipates sales acceleration in the second half due to a low base effect and new product/store expansions. UBS maintains a Buy rating with a target price of HKD28.6.
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