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CITIC Lyon: Raises XPeng International's target price by 4%, maintains "Outperform Market"
Jin10 data March 24 news, Citic Securities has released a report stating that it has raised the target price for Xtep International (01368.HK) by 3.5%, from HKD 5.7 to HKD 5.9, maintaining a rating of "outperforming the market". Citic Securities pointed out that Xtep's sales/net profit for the fiscal year 2024 is in line with its expectations. Xtep's guidance indicates a positive growth in group sales, with net profit increasing by over 10% after the sale of KPGlobal. The guidance for sales in the professional sports sector indicates a growth of 30-40%. Looking ahead to 2025, the transformation of the Xtep brand to a direct-to-consumer (DTC) business model, simplifying channel structure, and overseas expansion are strategic priorities.