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<Research>Jefferies Trims LI NING (02331.HK) TP to HKD48, Anticipates Growth from Partnership with Chinese Olympic Committee
Recommend 15 Positive 16 Negative 11 |
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Jefferies published a research report on LI NING (02331.HK), which managed the initial sponsorship expenses with the Chinese Olympic Committee better than expected. Some investors had anticipated that the additional operational expenses related to this partnership would reach RMB600-700 million this year. The collaboration with the Chinese Olympic Committee was believed to be a key growth driver for the group from 2025 to 2028. Jefferies emphasized that the partnership with the Chinese Olympic Committee will entail substantial revenue and profit opportunities to Li Ning, aiding in the brand's product portfolio restructuring. The broker also noted that Li Ning has been incessantly raising dividends and buyback scales in recent years. The rating was given as Buy, with the target price lowered from HKD50 to HKD48. AASTOCKS Financial News Website: www.aastocks.com |
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