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<Research>BOCI Expects Puma to Take Longer to Bring Significant Profit to ANTA SPORTS w/ Potential for More M&As in Future
Recommend 4 Positive 7 Negative 4 |
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ANTA SPORTS (02020.HK) announced the acquisition of a 29.06% stake in the German sportswear brand, Puma, for EUR1.5 billion, according to a research report by BOCI. Although the market had anticipated this transaction, the broker believed that the actual consideration paid is better than market expectations. BOCI anticipated that the turnaround path for Puma's business will differ from that of Amer Sports or Fila, meaning that it may take longer for Puma to contribute significant profits to ANTA SPORTS. Meanwhile, the broker believed that ANTA SPORTS' global expansion plan may not stop at this deal, and more M&A actions are likely in the future. Overall, BOCI expected the impact of this transaction on its adjusted earnings forecasts for 2026 and 2027 to be limited, and does not change its investment logic for ANTA SPORTS' Buy rating. Therefore, the broker now set a target price of $95.4. AASTOCKS Financial News Website: www.aastocks.com |
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