ANTA SPORTS Acquisition Proposal: ANTA SPORTS has proposed to acquire Puma's 29% stake from France's Pinault family, which has faced strong opposition from Jefferies in a research report.
Concerns Over Financial Impact: Jefferies warns that the acquisition could dilute management resources and shareholder returns, potentially requiring ANTA SPORTS to engage in share placements or large-scale financing.
Puma's Profitability Challenges: The report highlights that Puma is struggling to achieve profitability, which could negatively impact ANTA SPORTS if the acquisition proceeds.
Market Rating and Target Price: Jefferies has assigned a Hold rating to ANTA SPORTS with a target price set at HKD95, amidst rising trading activity in the Hong Kong stock market, particularly in tech and consumption sectors.
Wall Street analysts forecast 02020 stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for 02020 is USD with a low forecast of USD and a high forecast of 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.
0 Analyst Rating
Wall Street analysts forecast 02020 stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for 02020 is USD with a low forecast of USD and a high forecast of 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.
0 Buy
0 Hold
0 Sell
Current: 81.150
Low
Averages
High
Current: 81.150
Low
Averages
High
Jefferies
Jefferies
Hold
maintain
$95
Al Analysis
2026-01-09
Reason
Jefferies
Jefferies
Price Target
$95
Al Analysis
2026-01-09
maintain
Hold
Reason
Jefferies strongly opposed ANTA SPORTS' proposed acquisition of Puma's 29% stake, citing concerns that it would dilute management resources and shareholder returns. They believe that the acquisition may necessitate share placements or other large-scale financing activities, which could negatively impact shareholder value. Additionally, Jefferies noted that Puma is struggling to achieve profitability, which could further drag down ANTA SPORTS. As a result, they assigned a Hold rating with a target price of HKD95.
Citi
Buy
maintain
2025-12-15
Reason
Citi
Price Target
2025-12-15
maintain
Buy
Reason
The analyst rating for TOPSPORTS was maintained as "Buy" by Citi despite a reduction in net profit forecasts for FY27-28. This decision was based on the broker's unchanged sales and net profit forecasts for the fiscal year ending February 2026, along with a slight increase in the target price from HKD3.75 to HKD3.8. The adjustments in profit forecasts were attributed to expected sales forecast reductions, but the overall outlook for TOPSPORTS remains positive within the context of the Chinese sports apparel sector, where it ranks favorably compared to its peers.
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Citi
Buy
maintain
2025-12-15
Reason
Citi
Price Target
2025-12-15
maintain
Buy
Reason
The analyst rating for ANTA SPORTS was maintained as a Buy due to Citi's decision to roll over its valuation to a 2026E P/E from a 2025E P/E, which aligns with updated valuations for other China sportswear companies. Additionally, Citi raised ANTA's target price from HK$109.7 to HK$112.7 based on a targeted 20x P/E for 2026, indicating confidence in the company's future performance within the sector. The preference for ANTA, along with TOPSPORTS and LI NING, reflects a consistent positive outlook for China sportswear.
BOCI
BOCI
Buy
to
Buy
downgrade
2025-10-30
Reason
BOCI
BOCI
Price Target
2025-10-30
downgrade
Buy
to
Buy
Reason
The analyst rating for ANTA SPORTS was influenced by several factors. Despite the company maintaining a Buy rating, BOCI lowered its target price due to the following reasons:
1. Failure to Meet Expectations: ANTA SPORTS did not meet management expectations for its 3Q25 results, with retail sales for both the Anta and Fila brands showing only low single-digit growth year-over-year.
2. Weak Consumer Confidence: The report highlighted weak consumer confidence as a key issue affecting sales performance.
3. Intense Market Competition: The competitive environment in the market was noted as a significant challenge, contributing to concerns about future performance.
4. Lowered Sales Guidance: ANTA SPORTS revised its full-year guidance for the core Anta brand, reducing the sales growth forecast from mid-single-digit to low single-digit growth year-over-year.
5. Short-term Valuation Downgrade Risks: There are market concerns regarding the competitive environment in 4Q25 and the potential for ANTA SPORTS to miss forecasts again, which could lead to short-term valuation downgrade risks.
Despite these challenges, BOCI remains confident in ANTA SPORTS' ability to maintain market leadership and outperform peers through its multi-brand strategy.
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.
