Li Ning falls 2% only sees investment bank raise target price

Li Ning slightly lower this morning, the share price is now down 1.63% to HK $18.06, deal 746,500 shares. Wanguo issued a report saying it maintained the unit's rating, but raised its target price to HK $23, a 25 times-fold ratio for 09, and 1.25 times times the growth rate of 2000 cents between 10 and 12, compared with a market premium of 27%. For the first four months of this year, a series of data shows the company's health, such as the delivery rate of futures business has been 98 to 9,900 cents, the retail business discount rate has been maintained at 2000 cents. The sales business has been faster than the purchase business, and the ratio of the stock sales has been decreasing. and in order to achieve the difference between domestic and foreign brands, Li-Ning company successfully launched the feather ball business.　　Shenwan therefore believes that the company's valuation premium should be further expanded. Dahua (UOB) also reported that the target price of Li Ning was raised from HK $11.1 to HK $14.8 as the target of the 10-year earnings ratio was raised to 15 times times from the previous 12 times times. The outlook for Li Ning has improved, with sales in the same store increased in April, and the fourth quarter of 09, when the shipping book was restarted. But UOB is still wary of Li Ning's profit margin, which has a backlog of stocks at the retail level, and is expected to grow at 10% to 20% over the next 3 years, with growth exceeding 50% per cent during 2005-08.