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HSBC lifts Li Ning (02331) to HK$9.1
HSBC Global Research lifted its target price for Li
Ning (02331) to HK$9.1 from HK$7.7, and reiterated its "buy" rating as it remains
confident about continued market share and margin recovery.
  The research house sees room for the shares to re-rate further in 2018 on the back of
improving SSSG, stronger future orders, and potential dividend.
  HSBC raised its earnings forecast by 5%-9% for FY2018/19 driven by 2-5% higher revenue 
and improved operating leverage. It forecast sales to reach RMB10.2bn, above its 
historical peak of RMB9.5bn in 2014.

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