JP Morgan: Raises target price of ANTA SPORTS (02020) to 142 Hong Kong dollars, maintains "overweight" rating.

JP Morgan released a research report stating that ANTA SPORTS (02020) has continued the stable trend from the first quarter to the second quarter of this year. Coupled with healthy inventory conditions, optimistic sales and performance factors, ANTA SPORTS' target price has been raised from HK$140 to HK$142, maintaining a "hold" rating. JP Morgan maintained ANTA SPORTS' retail sales guidance for this year, with high single-digit growth for Anta, mid-single-digit growth for Fila, and over 30% growth for other brands. The company also maintained its operating profit margin guidance for the year, with Anta expected to be between 20% and 25%, Fila around 25%, and other brands between 25% and 30%. In addition, due to Anta's increased investment in Maia Active and the planned completion of the Jack Wolfskin acquisition in June, the bank has raised its profit forecast for ANTA SPORTS for 2025 to 2027 by 1% to 2%.