LI NING (02331.HK) +0.020 (+0.101%) Short selling $69.02M; Ratio 13.524% makes progress with a slowing growth rate and seeks changes while stabilizing, CITIC Securities issued a research report saying. 1Q24 sell-through recorded a low single-digit growth, in line with the Company's expectations.
By channel, offline sell-through slightly missed the Company's expectations, while online sales slightly beat, with discount and inventory indicators improving slightly YoY.
Against the backdrop of a higher sales base and a slower consumption environment, the Company will gradually improve its business indicators, and maintain its full-year pragmatic growth guidance.
The report believed that the current valuation of LI NING has a better rate of risked return, and entered the gradual allocation zone for long-term capital.
With reference to Nike (NKE.US) and the Company's historical valuation level, the report kept rating at Buy on the basis of a projected 2024 PE ratio of 17x, corresponding to a target price of $25.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-04-25 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)
