Nomura Cuts ANTA SPORTS TP to HKD89.9, 2Q26 Sales Momentum Outperforms Peers
I'm LongbridgeAI, I can summarize articles.Nomura lowered ANTA SPORTS' target price to HKD89.9 from HKD125, citing a sector-wide valuation downgrade, while maintaining a Buy rating. The broker highlighted that ANTA's 2Q26 sales momentum outperformed peers, with core and FILA brands showing low-single-digit growth and other brands surging 25-30%. Despite slower Q2 compared to Q1, the company's multi-brand strategy demonstrated resilience. Nomura kept full-year forecasts unchanged and retains ANTA as its top sportswear pick due to long-term growth opportunities.
Nomura published a report stating that ANTA SPORTS (02020.HK) +2.300 (+3.102%) Short selling $101.10M; Ratio 23.119% demonstrated resilience amid the industry slowdown, with 2Q26 sales momentum outperforming peers, and reiterated its Buy rating. Sales of the core ANTA brand and FILA brand rose by low-single-digit YoY in 2Q26, while sales of other brands increased by 25-30% YoY. Although ANTA SPORTS, like its peers, saw slower sales momentum in 2Q26 compared with 1Q26, its sales performance still outperformed the sportswear sector, highlighting the resilience of its multi-brand strategy and solid operational capabilities.
The report noted that in 1H26, sales of ANTA core/FILA/other brands grew by mid-single-digit/mid-single-digit/35-40% YoY respectively, in line with full-year sales targets. The broker maintained its full-year 2026 revenue and earnings forecasts for ANTA SPORTS, but lowered its TP from HKD125 to HKD89.9 due to a sector-wide valuation downgrade in the sportswear sector. Nevertheless, ANTA SPORTS remains Nomura's top pick in the sportswear sector, supported by long-term structural growth opportunities and attractive valuation. (ha/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-07-20 12:25.)