Citi Keeps Buy Rating on ANTA Sports with HK$108.8 Target, Positive on Puma China Integration
Stock News
52 mins ago
Citi has issued a research report maintaining its Buy rating on ANTA Sports (02020) with a target price of HK$108.8.
ANTA Sports has completed the acquisition of approximately 29% of Puma, with the deal closing about a month earlier than the bank had anticipated.
The bank expects management to provide substantive details on the future strategic blueprint for Puma's China business during its third-quarter retail sales conference call.
Citi holds a positive view on the potential integration of Puma's China retail and distribution operations following the completion of the transaction.
The bank's sector preference order is ANTA Sports, followed by Li Ning (02331) and then Topsports (06110).
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