Key Takeaways
China Merchants Securities reiterated its "Strongly Recommend" rating for ANTA Sports after the company's first-quarter 2026 sales results surpassed expectations across its brand portfolio.
"The results highlight that the company's multi-brand operational capabilities continue to strengthen," China Merchants Securities said in a research report published April 14.
The outperformance was driven by broad-based growth, with the core ANTA brand posting high single-digit gains and the FILA brand delivering low double-digit growth. The company's portfolio of other brands, including Descente and Kolon Sport, was the standout, with turnover surging between 40 and 45 percent.
The bank projects ANTA's net profit for 2026 will reach 14.05 billion yuan, excluding non-recurring items. Based on this forecast, the stock trades at a price-to-earnings multiple of 13 times, a level China Merchants Securities described as having "attractive" valuation.
The strong Q1 report and subsequent analyst endorsement reinforce the positive outlook on ANTA's direct-to-consumer and multi-brand strategy. Investors will be watching the company's half-year results in August to see if the growth momentum can be sustained.
This article is for informational purposes only and does not constitute investment advice.
