UBS: Raise Anta Sports (02020) target price to HK$108.5 to maintain “buy” rating

Zhitongcaijing · 1d ago

The Zhitong Finance App learned that UBS released a research report saying that the market underestimated the profitability of Anta Sports (02020), raised the target price from HK$104.5 to HK$108.5, and maintained a “buy” rating.

The bank believes that the company's multi-brand portfolio can provide support, and each brand can bring incremental growth according to its cycle stage, and is more resilient than a single brand industry. Anta's overseas expansion has yet to be fully reflected, including the global business layout of Amber (Amber), the international expansion of Anta's main brand, and additional synergies that Puma (Puma)'s global network may bring.

According to the bank, Anta is currently 11 times the price-earnings ratio predicted in 2027. Considering that the compounded annual growth rate of the company's net profit from 2026 to 2028 is expected to reach 12%, and the dividend rate is about 4%, it believes that the value of the shares is undervalued.