Consumer Staples Jun 01, 2021 11:10 AM (GMT+8) · EqualOcean
China Merchants Securities (Hong Kong) said in a research report that it maintained Li Ning's "buy" rating, raised its target price to HK $80.7, and maintained its forecast of a compound growth of 35.2% in earnings per share in the next three years. According to the report, a recent survey of a large-scale Li Ning dealer found that Li Ning has achieved strong sales growth in the past two months. Gmv in April increased by + 120% compared with 2020 and + 60% compared with 2019. Gmv in May increased by + 50% compared with 2020 and + 35% compared with 2019, which greatly exceeded the dealer's expectation.
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