CICC: Maintains target price of 6.9 Hong Kong dollars for Xtep International (01368.HK), rating "Outperform" in the industry.

Wisdom Financial APP learned that CICC released a research report stating that it maintains the EPS forecast of 0.50/0.55 yuan for Anta Sports (01368.HK) for 2025/26, and the current stock price corresponds to a 10/9 times 2025/26 PE ratio. It maintains its outperform rating and target price of 6.90 Hong Kong dollars unchanged, corresponding to a 13/12 times 2025/26 PE ratio, with a 29% upside potential from the current stock price. The company announced its operating performance for the second quarter of 2025: Anta's main brand retail revenue increased by a low single-digit percentage year-on-year, retail discounts from seven to 7.5%, and channel inventory turnover at 4-4.5 months at the end of June; Saucony brand retail revenue increased by over 20% year-on-year.