大行评级丨瑞银：升特步评级至“买入”，2025至27年盈测上调1%至9%

Group 1 - UBS upgraded Xtep (1368.HK) from "Neutral" to "Buy" and raised the target price from HKD 6.4 to HKD 7.6 [1] - The net profit forecast for 2025 to 2027 was increased by 1% to 9%, with expected earnings contribution from the Saucony and Merrell brands rising significantly from 5% in 2024 to 16% in 2027 [1] Group 2 - The firm is also optimistic about Anta Sports (2020.HK), anticipating that the earnings contribution from vertical brands will increase from 9% in 2024 to 31% in 2027 [1] - UBS maintains a "Buy" rating for Anta Sports with a target price of HKD 127 [1]