JP Morgan: Maintains "Overweight" rating on ANTA SPORTS (02020) with a target price of HKD 130.
J.P. Morgan views Anta as the top choice in the Chinese sportswear sector.
J.P. Morgan released a research report stating that although the retail trend for ANTA SPORTS (02020) has remained soft so far in the third quarter, management has maintained its guidance for the year. The firm believes that as the company's market share continues to grow this year, it can still achieve its annual guidance and considers ANTA to be the top pick in the Chinese sports apparel sector. J.P. Morgan indicated that despite the uncertainties in the macro environment, it is confident in ANTA's execution capability, along with its multi-brand platform and extensive overseas expansion, which should allow it to maintain a valuation premium above its peers. The firm has maintained a "Buy" rating on the company with a target price of HKD 130.
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