Narrow Moat Anta’s FVE Raised to HKD 19 from HKD 18 Per Share; Shares Fairly Valued
We are raising Anta’s DCF-generated fair value estimate to HKD 19 per share and our recommendation is upgraded to three-stars. We have seen no signs of a slowdown in sales from Anta's e-commerce channels (over 50% growth), Fila (over 50% growth), Anta Kids (over 30% growth) in the third quarter. However, our assumptions for the next five years have baked in a gradual slowdown in all segments on more intense competition from foreign and local brands. We believe our optimistic forecasts have incor...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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.