JPMorgan analysts raised the price target on Bosideng International Holdings Lt (3998:HK) to HK$6.40 (from HK$5.70) while maintaining an Overweight rating.
The analysts comment: "We expect Bosideng to continue to ride China’s fast-growing consumer desire for better quality and designer down apparel products, leveraging its barriers to entry and advantages in elevated brand equity, strong product offerings, well-established distribution channels and highly efficient operating capabilities. We forecast sales/earnings CAGRs of 20%/24% over FY24-26, with OPM expansion of 130bps, to 17.1% in FY26E.