---
title: "Analyst Reiterates Buy on ANTA Sports with Unchanged $109 Price Target Amid Depressed Valuation and Improving Brand Momentum"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286307885.md"
description: "DBS analyst Alison Fok has reiterated a Buy rating on ANTA Sports with a price target of HK$109, citing the company's depressed valuation and improving brand momentum. The stock is trading at 13.5x FY26F earnings, reflecting concerns over the Puma stake and industry demand. ANTA's strong balance sheet reduces the need for dilutive equity placements. The planned acquisition of Puma is seen as a strategic move to enhance ANTA's global profile. The turnaround of FILA also presents growth potential, leading Fok to maintain confidence in ANTA's earnings growth as the market stabilizes."
datetime: "2026-05-13T19:35:19.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286307885.md)
  - [en](https://longbridge.com/en/news/286307885.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286307885.md)
---

# Analyst Reiterates Buy on ANTA Sports with Unchanged $109 Price Target Amid Depressed Valuation and Improving Brand Momentum

DBS analyst Alison Fok reiterated a Buy rating on ANTA Sports Products today and set a price target of HK$109.00.

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Alison Fok has given his Buy rating due to a combination of factors, including ANTA Sports’ depressed valuation and improving brand momentum. The stock is trading at about 13.5x FY26F earnings, near the low end of its recent trading range and below historical averages, suggesting that concerns over the Puma stake, execution risks, and soft industry demand are largely reflected in the price. ANTA also maintains a strong balance sheet with substantial net cash, reducing the likelihood and necessity of a dilutive equity placement to fund the Puma investment.

In addition, the planned acquisition of a significant stake in Puma, though only modestly accretive near term, is seen as a strategic step that can elevate ANTA’s global profile and differentiate it from domestic peers. The ongoing turnaround of FILA, supported by successful fashion events, new product launches, and upgraded store formats, provides a visible growth driver and potential upside surprise if sales outperform guidance. Against this backdrop, Fok reiterates a Buy rating with an unchanged 12‑month price target of $109, reflecting confidence that earnings growth and a re‑rating can follow as the China sportswear market stabilises.

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