The Citigroup report released on January 27th stated that it maintains the net profit forecast for Li Ning in 2024, but lowers the forecast for 2025 and 2026 by 12% and 9% respectively, and lowers the operating income by 4% to reflect the latest and more cautious guidance from the management. Citigroup also lowered the profit margin expectations for Li Ning to reflect the company's latest announcement of the COC partnership protocol. The bank believes that the company's revenue growth will accelerate significantly in 2026 as the benefits of the COC partnership fully kick in. The bank has raised Li Ning's target price from HKD 14.36 to HKD 15.91, which is equivalent to a forecasted P/E ratio of 13 times this year, and maintains a neutral rating.
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Citi raises Li Ning's target price to HKD 15.91, neutral rating
The Citigroup report released on January 27th stated that it maintains the net profit forecast for Li Ning in 2024, but lowers the forecast for 2025 and 2026 by 12% and 9% respectively, and lowers the operating income by 4% to reflect the latest and more cautious guidance from the management. Citigroup also lowered the profit margin expectations for Li Ning to reflect the company's latest announcement of the COC partnership protocol. The bank believes that the company's revenue growth will accelerate significantly in 2026 as the benefits of the COC partnership fully kick in. The bank has raised Li Ning's target price from HKD 14.36 to HKD 15.91, which is equivalent to a forecasted P/E ratio of 13 times this year, and maintains a neutral rating.