Key Takeaways
China International Capital Corp. maintained its “Outperform” rating for ANTA Sports, projecting a 34 percent upside after the company’s multi-brand strategy delivered stronger-than-expected sales growth in the first quarter.
The investment bank held its price target at HK$110.91, citing improved operational quality and stable retail discounts in a research report dated April 14, 2026.
ANTA’s Q1 retail sales showed broad strength, with the core ANTA brand growing by high single digits. The FILA brand expanded in the low-end of a 10 to 20 percent range, while all other brands collectively surged between 40 and 45 percent.
CICC maintained its earnings per share forecast for 2026 and 2027 at 4.99 yuan and 5.38 yuan, respectively. The positive report may boost investor confidence in the Chinese sportswear sector and its peers, including Li Ning and Xtep.
The report noted that the company's operational quality has improved, with stable discounts and an optimized inventory-to-sales ratio, suggesting healthier channel management.
The sustained growth across its brand portfolio suggests ANTA's diversification strategy is paying off, insulating it from single-brand risk. Investors will look to the company's full half-year report in August for confirmation of margin trends and inventory health.
This article is for informational purposes only and does not constitute investment advice.
