Anta's 3Q Result in Line With Estimate; Payout Ratio to Drop if Acquisition Goes Through
Narrow-moat Anta reported third-quarter operating performance in line with our 2017 full-year estimate, and we have no plan to change our current HKD 55 fair value estimate. We attribute the recent drop in Anta’s share price to worries over the recently proposed buyout of Amer Sports. As we highlighted in our previous note, Anta’s intent to purchase Amer is strategically sound, and given potential synergies between the two businesses, its buyout offer is valuation-neutral. We believe the market ...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.