0405 GMT - Anta Sports Products' shares appear undervalued, despite a 5% rise following its 4Q sales update, Morningstar analyst Ivan Su writes in a note. The Chinese sportswear company's 4Q sales slightly exceeded Morningstar's expectations. While the company did not provide guidance for 2025, early January sales trends indicate strong momentum, supporting a double-digit revenue growth outlook, Su says. However, uncertainties surrounding the Chinese economy have raised concerns about a potential slowdown in sportswear spending, particularly for Fila, Su adds. Still, the company's solid 4Q update has helped alleviate near-term worries, Su adds. Morningstar maintains the stock's narrow moat rating and fair value estimate of HK$130.00. Shares are 0.1% lower at HK$78.55. (amanda.lee@wsj.com)
(END) Dow Jones Newswires
January 09, 2025 23:05 ET (04:05 GMT)
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