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<Research>CLSA Keeps Outperform on XTEP INT'L but Cuts TP to HKD5.5
Recommend 3 Positive 2 Negative 2 |
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CLSA has issued a report predicting XTEP INT'L (01368.HK) to record a 4.4% YoY increase in 2026 group sales on product innovation and diversification, as well as the continued channel restructuring for the core Xtep brand and Saucony. The broker also estimates XTEP INT'L's operating margin to drop by 1.8 ppts YoY to 12.5% in 2026, given the increased proportion of direct-to-consumer (DTC) channels as a result of the company's plan to reclaim distribution rights for around 500 stores in 2026, as well as store relocations and share award schemes. CLSA has trimmed its target price for XTEP INT'L from HKD6.3 to HKD5.5. Optimistic about the company's medium-term growth outlook and the positive results from the ongoing adjustments, the broker has kept the Outperform rating unchanged. Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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