Mar 26, 2021 01:13 PM (GMT+8) · EqualOcean
Guotai Junan (Hong Kong) said it raised Li Ning's target price to HK $61.10 and upgraded its rating to "buy". The bank expects that it will restore its strong growth momentum and improve its profit margin in the next few years, and forecasts that the company's earnings per share will achieve a compound annual growth rate of 30.3% in 2020-2023. Based on the company's rapid growth, continuous profitability improvement and huge long-term growth potential in the future, the target price was raised. The new target price is equivalent to 55.0 times, 42.4 times and 34.9 times of P / E ratio in 2021, 2022 and 2023 respectively, as well as 35.3% rising space.