Jefferies expects Li Ning (02331) to include more urban outdoor products starting in the summer of 2024. It is believed that physical stores will also recover in 2024.
The Zhitong Finance App learned that Jefferies released a research report stating that it gave Li Ning (02331) a “buy” rating, with a target price of HK$52. The company's cash flow remains strong compared to its profit. The increase in e-commerce sales in the first quarter of 2024 shows that the company has basically solved the resale problem, and the price reduction trend also shows that the company's e-commerce inventory has recovered to health. The bank expects Li Ning to start in the summer of 2024, including more urban outdoor products. It is believed that physical stores will recover in 2024. Furthermore, investors are expected to pay new attention to Li Ning's value creation, and the company is expected to make more positive progress in 2024.