BUZZ-HK-listed ANTA Sports hits record high on upbeat earnings outlook

Reuters2021-06-18

** Shares of China's home-grown sportswear maker ANTA Sports Products Ltd rise 7.6% to HK$178, their record high since listing in July 2007

** Stock on course for second session of gains

** Stock set for its best session since March 25; among the 30 most actively traded by turnover and the 30 biggest percentage gainer on the Hong Kong bourse

** ANTA Sports expects its net profit for fiscal first half through June to increase at least 65% from a year earlier, with revenue growing at least 50% as sales rebounded on easing impact from the pandemic

** Nomura maintains "buy" on ANTA, but lifts TP to HK$205.1 from HK$180.2 on expectations of a more positive full-year results

** CMB International maintains "buy" on the stock and raises TP to HK$198.84 from HK$150.66 on confident on ANTA's growth ahead amid strong domestic brand momentum with no meaningful recovery for foreign brands so far in June 2021

** Smaller rivals Li Ning surges 8.9% to an all-time high at HK$85.50

** 361 Degrees soars 13.7% to HK$4.41, highest since September 2011

** Xtep jumps 10% to a record high at HK$13.70

** The Hong Kong Hang Seng consumer goods and services index

rises 1.5%

** The Hang Seng China enterprises index climbs 0.5%, and the benchmark index gains 0.6%

(Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)

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