Anta Delivered Solid First-Half Result; FVE Raised to HKD 18.00 Per Share
The overall tone of Anta’s management in the first-half 2016 earnings presentation was positive, and the result is better than our and consensus' expectations. We have raised our 2016 revenue and operating profit by 3% and 2%, respectively, and our five-year CAGR in operating income is now 12%, versus 8% previously. These lead to a HKD 2.00 increase in our fair value estimate to HKD 18.00 per share. We believe the shares are fairly valued.Total revenue in the first half of 2016 was up 20.2% yea...
ANTA Sports Products is principally engaged in the manufacturing, trading and distribution of sporting goods, including footwear, apparel and accessories, in the People's Republic of China. As of Dec 31 2014, there were 7,662 ANTA Stores, 1,228 Kids sportswear series stores and 519 FILA stores in China, Hong Kong and Macao.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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