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　　招银国际发布研报称，李宁（02331）2024财政年度的业绩符合市场预期，而2024年第四季的营运数字则略胜预期。展望未来，一方面公司提出保守的2025财年指引，并计划增加未来投资，另一方面首季营运数字已呈现改善趋势。因此，尽管目前估值相对较高，该行倾向认为最坏的情况应该已经过去，并维持“买入”评级。目标价由19.58港元微升至19.81港元。

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