Shenwan up the target price to 9.8 yuan

The Shenwan study published a report giving Anta sport a winning market rating, with the target price raised from $5.7 to 9.8 yuan, the equivalent of 22 times times the 09 forecast earnings ratio, and a discount of 10% per cent for the 02331-HK target valuation. According to the report, the order amount of Anta in the fourth quarter of 09 was boosted by an economic rebound of 25% per cent year-on-year, with 25% to 45% growth in the first three quarter, with an expected annual revenue increase of 26% per cent, lower than that of the previous 33.6%, but in view of the continued expansion of mainland consumption　　Anta's income will have more room for growth. The report indicated that the failure to increase the price of Anta's products was a result of the lack of adjustment in the product mix and the reduction of its net profit of 09 by 1.25%.