Shares of ANTA Sports Products Limited (HKG:2020) soared 5.05% on September 20, 2024, as investors remained optimistic about the company's growth prospects despite concerns over its high valuation.
The surge came after analysts at a prominent research firm reiterated their "buy" rating on ANTA Sports Products, citing the company's strong brand recognition and expanding presence in the domestic and international markets. The analysts noted that while the stock's price-to-earnings (P/E) ratio appears high compared to the market, ANTA Sports Products' past earnings growth and future potential justify the premium valuation.
ANTA Sports Products has delivered exceptional earnings growth in recent years, with its bottom line rising 46% in the past year and 71% over the past three years. While analysts expect the company's earnings growth to moderate to around 5.1% annually over the next three years, they believe ANTA Sports Products' strong brand equity, product innovation, and expansion strategies will continue to drive growth and support its premium valuation.
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