Citi Recommends ANTA SPORTS as a Buy Following Positive Full-Year Guidance from Amer
Amer Sports Performance: Amer Sports reported strong 3Q25 results, exceeding market expectations with a 31% YoY revenue increase driven by a 27% growth in same-store sales for its technical apparel business.
Impact of Firework Incident: The anticipated negative impact from a firework incident involving Arc'teryx was less severe than expected, allowing management to raise its 2025 operating guidance.
Positive Outlook for ANTA SPORTS: Citi Research forecasts that Amer's strong performance could positively influence ANTA SPORTS and TOPSPORTS, with ANTA's 2025 attributable revenue from associates projected to exceed previous estimates.
Broker Rating and Target Price: Citi rated ANTA SPORTS as a Buy, setting a target price of $109.7, reflecting an approximate 1% upside to the full-year net profit projection based on the revised revenue forecasts.
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HSI Rises 138 Points in Half-Day Trading as CMOC/LAOPU GOLD Jumps 6% After Blue Chip Inclusion; Overall HSI Increases 32% in Year of the Snake
Hong Kong Stock Performance: On February 16, Hong Kong stocks saw a positive half-day session, with the HSI closing up 138 points (0.5%) at 26,705, marking a strong overall performance in the Year of the Snake with a 32% gain.
HSI Quarterly Review Changes: The quarterly review of the HSI included the addition of CATL, CMOC, and LAOPU GOLD, which saw significant gains, while ZHONGSHENG HLDG was removed from the index.
Individual Stock Movements: Notable stock movements included SANDS CHINA LTD rising 2.7% despite a slight decline in property EBITDA, while ANTA SPORTS experienced a minor drop after shareholder approval for a significant acquisition.
US Department of War Update: The US Department of War's withdrawal of the "List of Chinese Military Companies" impacted stock prices, with BABA-W declining 0.5% and BIDU-SW increasing by 1.3%.
HSI Declines by 65 Points at Opening; CATL and CMOC Start Strong Among Blue Chips; Alibaba and Baidu Struggle
US Inflation and Stock Market Update: US inflation was below expectations while core inflation met them; the DJIA rose by 0.1% last Friday.
Hong Kong Stock Market Performance: The Hong Kong bourse opened lower, with the HSI down 0.2% and other indices also showing declines.
HSI Quarterly Review Changes: CATL, CMOC, and LAOPU GOLD were added to the HSI, while ZHONGSHENG HLDG was removed; CATL and CMOC saw slight increases in their stock prices.
Notable Stock Movements: Stocks like BABA-W and BIDU-SW dropped significantly after being listed as Chinese military companies, while ANTA SPORTS received approval for a stake acquisition in PUMA.
ANTA SPORTS Launches Its First Flagship Store in North America, Located in Beverly Hills
ANTA SPORTS Opens First US Store: ANTA SPORTS has launched its first North American flagship store in Beverly Hills, Los Angeles, marking its entry into the US market with a direct-operated retail model.
Strategic Shift in Market Approach: The opening aims to move away from the traditional reliance on wholesalers and agents, positioning ANTA SPORTS in a high-end commercial area to enhance brand visibility and direct consumer engagement.
ANTA SPORTS Secures Written Shareholder Approval for ~29% Stake Acquisition in PUMA
Acquisition Details: ANTA SPORTS has received shareholder approvals for the acquisition of a 29% stake in PUMA, involving its subsidiaries Anta International, Anda Holdings, and Anda Investments.
Shareholder Holdings: The three entities collectively hold approximately 1.4775 billion shares, which accounts for about 52.83% of PUMA's total issued shares.
Citi Sees Promise in ANTA SPORTS (02020.HK) Acquisition of Puma with Target Price of $107
ANTA SPORTS Acquisition: ANTA SPORTS announced its acquisition of Puma, raising investor questions about its impact on the company's business in China.
Citi Research Insights: Citi Research predicts that the acquisition could lead to rapid revenue growth for Puma in China and suggests potential integration of retail and distribution operations.
Market Recommendations: The broker maintains a "Buy" recommendation for ANTA SPORTS and sets a target price of $107, alongside other companies in the sportswear sector.
Short Selling Data: As of February 10, 2026, ANTA SPORTS has a short selling ratio of 14.717%, while other companies like TOPSPORTS and LI NING also show significant short selling activity.
<Research>BOCI Predicts Extended Timeline for Puma to Deliver Substantial Profits to ANTA SPORTS, with Possibility of Future M&As
Acquisition Details: ANTA SPORTS announced the acquisition of a 29.06% stake in Puma for EUR1.5 billion, which was better than market expectations despite prior anticipation of the deal.
Future Outlook: BOCI suggests that Puma's turnaround may take longer compared to other brands like Amer Sports or Fila, and anticipates further M&A activities from ANTA SPORTS in the future.
Market Reaction: Citi maintains a Buy rating on ANTA SPORTS, indicating that any negatives from the Puma acquisition are already reflected in the stock price.
Earnings Forecast: BOCI expects limited impact on ANTA SPORTS' adjusted earnings forecasts for 2026 and 2027, setting a target price of $95.4 for the stock.
HSI Rises 138 Points in Half-Day Trading as CMOC/LAOPU GOLD Jumps 6% After Blue Chip Inclusion; Overall HSI Increases 32% in Year of the Snake
Hong Kong Stock Performance: On February 16, Hong Kong stocks saw a positive half-day session, with the HSI closing up 138 points (0.5%) at 26,705, marking a strong overall performance in the Year of the Snake with a 32% gain.
HSI Quarterly Review Changes: The quarterly review of the HSI included the addition of CATL, CMOC, and LAOPU GOLD, which saw significant gains, while ZHONGSHENG HLDG was removed from the index.
Individual Stock Movements: Notable stock movements included SANDS CHINA LTD rising 2.7% despite a slight decline in property EBITDA, while ANTA SPORTS experienced a minor drop after shareholder approval for a significant acquisition.
US Department of War Update: The US Department of War's withdrawal of the "List of Chinese Military Companies" impacted stock prices, with BABA-W declining 0.5% and BIDU-SW increasing by 1.3%.
HSI Declines by 65 Points at Opening; CATL and CMOC Start Strong Among Blue Chips; Alibaba and Baidu Struggle
US Inflation and Stock Market Update: US inflation was below expectations while core inflation met them; the DJIA rose by 0.1% last Friday.
Hong Kong Stock Market Performance: The Hong Kong bourse opened lower, with the HSI down 0.2% and other indices also showing declines.
HSI Quarterly Review Changes: CATL, CMOC, and LAOPU GOLD were added to the HSI, while ZHONGSHENG HLDG was removed; CATL and CMOC saw slight increases in their stock prices.
Notable Stock Movements: Stocks like BABA-W and BIDU-SW dropped significantly after being listed as Chinese military companies, while ANTA SPORTS received approval for a stake acquisition in PUMA.
ANTA SPORTS Launches Its First Flagship Store in North America, Located in Beverly Hills
ANTA SPORTS Opens First US Store: ANTA SPORTS has launched its first North American flagship store in Beverly Hills, Los Angeles, marking its entry into the US market with a direct-operated retail model.
Strategic Shift in Market Approach: The opening aims to move away from the traditional reliance on wholesalers and agents, positioning ANTA SPORTS in a high-end commercial area to enhance brand visibility and direct consumer engagement.
ANTA SPORTS Secures Written Shareholder Approval for ~29% Stake Acquisition in PUMA
Acquisition Details: ANTA SPORTS has received shareholder approvals for the acquisition of a 29% stake in PUMA, involving its subsidiaries Anta International, Anda Holdings, and Anda Investments.
Shareholder Holdings: The three entities collectively hold approximately 1.4775 billion shares, which accounts for about 52.83% of PUMA's total issued shares.
Citi Sees Promise in ANTA SPORTS (02020.HK) Acquisition of Puma with Target Price of $107
ANTA SPORTS Acquisition: ANTA SPORTS announced its acquisition of Puma, raising investor questions about its impact on the company's business in China.
Citi Research Insights: Citi Research predicts that the acquisition could lead to rapid revenue growth for Puma in China and suggests potential integration of retail and distribution operations.
Market Recommendations: The broker maintains a "Buy" recommendation for ANTA SPORTS and sets a target price of $107, alongside other companies in the sportswear sector.
Short Selling Data: As of February 10, 2026, ANTA SPORTS has a short selling ratio of 14.717%, while other companies like TOPSPORTS and LI NING also show significant short selling activity.
<Research>BOCI Predicts Extended Timeline for Puma to Deliver Substantial Profits to ANTA SPORTS, with Possibility of Future M&As
Acquisition Details: ANTA SPORTS announced the acquisition of a 29.06% stake in Puma for EUR1.5 billion, which was better than market expectations despite prior anticipation of the deal.
Future Outlook: BOCI suggests that Puma's turnaround may take longer compared to other brands like Amer Sports or Fila, and anticipates further M&A activities from ANTA SPORTS in the future.
Market Reaction: Citi maintains a Buy rating on ANTA SPORTS, indicating that any negatives from the Puma acquisition are already reflected in the stock price.
Earnings Forecast: BOCI expects limited impact on ANTA SPORTS' adjusted earnings forecasts for 2026 and 2027, setting a target price of $95.4 for the stock.
