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Nike Price Target Lowered to $92 From $95 at Wells Fargo
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Wells Fargo & Co lowered the Target Price for Nike to 92 dollars.
Gelonghui December 17 | Wells Fargo & Co: Downgraded Nike's Target Price from $95 to $92, maintaining a "Shareholding" rating. (Gelonghui)
Macquarie: Assigns TOPSPORTS a "neutral" rating with the Target Price raised to HKD 2.72.
Macquarie released a research report stating that it maintains a "neutral" rating for TOPSPORTS (06110), raising the net income forecast for TOPSPORTS for the fiscal years 2025 and 2026 by 6.3% and 5.6% respectively, mainly due to higher revenue forecasts. At the same time, it increased the target price from HKD 2.6 to HKD 2.72. The total sales of "TOPSPORTS Sports" in the third quarter fell in the single-digit percentage compared to the same period last year, exceeding the firm's expectations. The firm indicated that the discount level for TOPSPORTS in the third quarter widened compared to the previous quarter, mainly due to inventory promotion force leading to an increase in offline discount levels; revenue from online channels contributed to 40% of Retail Trade, but part was impacted by online discounts.
Guosheng Securities: Maintain TOPSPORTS "Buy" rating. Sales declined in FY25Q3 by single digits.
Guosheng Securities released a research report stating that it maintains a "Buy" rating for TOPSPORTS (06110). As a leading company in downstream channels for sports shoes and apparel, the optimization of terminal store structure and digital transformation drive improved retail efficiency. Efficient membership operations continue to strengthen user loyalty, and it is expected that the company's Net income for FY2025-FY2027 will be 1.338/1.477/1.64 billion yuan respectively, with the current price corresponding to a FY2025 PE of 12 times. TOPSPORTS released a quarterly operating announcement, stating that for FY2025 Q3 (September to November 2024), the company's total sales across all channels (including retail revenue and wholesale shipment amounts, tax inclusive).
CICC: Maintain TOPSPORTS 'outperform industry' rating with a Target Price of 3.1 Hong Kong dollars.
CITIC Securities released a research report stating that TOPSPORTS (06110) maintains a "outperform Industry" rating, with unchanged EPS forecasts of 0.22/0.28 yuan for FY25/26, and a Target Price of 3.1 HKD, corresponding to 14/10 times PE for FY25/26. The company announced the operational performance for 3QFY25 (September to November 2024): total sales amount for retail and wholesale Business declined in the low single digits year-on-year, and the gross sales area of self-operated stores decreased by 2.1% compared to the end of August. Key points from CITIC Securities are as follows: the decline in quarterly turnover growth rate narrowed compared to the previous quarter, guiding Operations with inventory as a core factor. 3QFY25 (20
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