The analyst rating is based on LI NING's long-term partnership with NBA star Stephen Curry, which is seen as a significant collaboration that could enhance the brand's equity, product offerings, and international expansion. While the financial impact on FY2026 is expected to be limited, the partnership is viewed as a catalyst for brand development and growth opportunities, leading to an Overweight rating with a target price of HKD25.6 for December 2026.
