Li Ning: UOB's target price rose to HK $14.8

Source: Internet
Author: User
Keywords Growth rate Hong Kong dollar
Davara has raised the <02331.HK> target price from HK $11.10 to HK $14.80 to maintain its rating. By raising the target of the 10-year earnings ratio to 15 times-fold from the previous 12 times-fold, the company's outlook has improved, with sales in the same store increasing in April, and the fourth quarter of 09 picking up, but the company said it needs to take measures to cope with the growing competition in the future. Despite the improved outlook, the company continued to take a cautious view of Li Ning's profitability, with inventories piling up at the retail level, with a forecast of 10% to 20% earnings growth over the next 3 years and a growth rate of more than 50% per cent during 2005-08.
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