China's 'Consumption Downgrade' Trips Up Anta
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 15 2024
0mins
Source: Benzinga
Fila Sales Decline: Anta Sports reported a low single-digit decline in sales for its Fila brand in the third quarter, contrasting with previous growth, as Chinese consumers increasingly prefer cheaper domestic brands amid economic slowdown.
Overall Revenue Growth Expected: Despite the Fila downturn, analysts anticipate a 16% revenue growth for Anta in the second half of the year, driven by strong performance from its other brands and effective management strategies.
Analyst Views on AS
Wall Street analysts forecast AS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AS is 46.98 USD with a low forecast of 39.80 USD and a high forecast of 58.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
13 Analyst Rating
12 Buy
1 Hold
0 Sell
Strong Buy
Current: 36.490
Low
39.80
Averages
46.98
High
58.00
Current: 36.490
Low
39.80
Averages
46.98
High
58.00
About AS
Amer Sports Inc is a Finland-based global group of sports and outdoor brands such as Arcteryx, Salomon, Wilson, Peak Performance, Atomic, Armada, ATEC, DeMarini, EvoShield and ENVE. The Company develops, manufactures, and markets sports and fitness equipment. Its products include sports equipment for tennis, badminton, soccer, baseball, basketball, golf, American football, alpine skiing, fitness training, cycling, running, hiking, snowboarding, cross-country skiing and diving. It also offers fitness equipment through factory outlets, and e-commerce companies through trade customers in sporting goods chains, mass merchants, specialty retailers, fitness clubs, and distributors. The Company operates worldwide.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
