Macquarie Lowers TOPSPORTS (06110.HK) Price Target to $3.9 Due to Weak Demand and Key Partner Support
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 23 2025
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Source: aastocks
Sales Performance: TOPSPORTS experienced a sales decline in 3FQ26 that aligned with management expectations and mirrored the performance from 2Q25, with weak demand persisting into December.
Nike Partnership: Despite challenges in the Chinese market, TOPSPORTS continues to collaborate closely with Nike, which is expected to provide ongoing support through better wholesale discounts and inventory buybacks.
Profit Forecast Adjustments: Macquarie has reduced its FY2026 and FY2027 net profit forecasts by 4.2% and 3.9% respectively, citing lower revenue expectations and rising expenses due to weaker demand.
Target Price Revision: The brokerage has lowered its target price for TOPSPORTS by 5% to HKD3.90 while maintaining an Outperform rating.
Analyst Views on 06110
Wall Street analysts forecast 06110 stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for 06110 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.
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Current: 2.810
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Current: 2.810
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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.
