Glonghui, March 28 | Bank of America Securities released a report saying that Anta's operating guidelines for this year are quite steady, in line with the three-year targets set in November last year, and raised its core earnings per share forecast for this year and next two years by 7% and 11%, respectively, to reflect improved profit margins. The bank raised Anta's target price by 7% to HK$110, maintaining a “buy” rating. It believes that the company's unique, strong and proven multi-brand retail operation capabilities will help the company better capture different consumer preferences and support long-term business growth. The bank believes that Anta is facing less pressure from discounts this year and believes it can provide a buffer for gross margin. In terms of the Amer Sports joint venture, it is estimated that the conversion from a loss of 718 million yuan last year to a profit of 500 million yuan this year will increase the company's profit after tax. After deducting the revenue from Amer Sports' first listing, profit after tax is expected to increase 17% year by year to 12 billion yuan.