BOCOM INTL: Maintains TOPSPORTS 'Neutral' rating with a Target Price of HKD 3.06.
BOCOM INTL has released a research report stating that it maintains a "Neutral" rating for TOPSPORTS (06110) due to ongoing pressure on foot traffic, expecting the company to still face operational pressure in the short term. However, considering that the sports sector has significant growth potential, although the role of offline channels is expected to undergo adjustments and changes in the future (such as precise matching of brand attributes), they remain one of the important channels. At the same time, Nike's new CEO values efficient retail cooperation across the board and the layout of professional sports categories, such as outdoor and running (with more emphasis on cushioning materials). As TOPSPORTS is an important retailer for Nike in the China market, the future cooperation between the two is worth looking forward to. Maintaining the Target Price.
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