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<Research>DBS Lifts LI NING (02331.HK) TP to $19.5 as Earnings Recovery Momentum Strengthening
Recommend 3 Positive 7 Negative 4 |
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LI NING (02331.HK) is a leading domestic sportswear brand in China, with a market share of 10.3% as of 2024, DBS Group Research issued a research report saying. The Company also developed the 'Li Ning YOUNG' and 'Li Ning China' brands to integrate into youth culture trends. LI NING's recent performance has not been as strong as during 2019-2022, lagging behind peers, the broker added. Despite intense market competition, growth is recovering. Therefore, DBS Group Research lifted its target price from $17.4 to $19.5 per share, based on a rolling 12-month PE ratio of 16x (previously 15x for FY2025), compared to global peers' forecasted PE ratios of 24x/ 19.9x for FY2025/ FY2026, with rating at Buy. AASTOCKS Financial News Website: www.aastocks.com |
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