大行评级丨瑞银：上调李宁目标价至28.6港元，上调2025至27年净利润预测

Core Viewpoint - UBS has upgraded Li Ning's investment rating from "Neutral" to "Buy," anticipating a significant acceleration in sales growth in the first quarter of this year, driven by the Glory series, new outdoor categories, and strong performance in badminton and running shoe products [1] Group 1 - UBS expects sales growth to record a mid-to-high single-digit increase on a quarterly basis [1] - The firm has raised its net profit forecasts for 2025 to 2027 by 4% to 7% [1] - The target price has been increased from HKD 21.8 to HKD 28.6, which corresponds to a projected price-to-earnings ratio of 18 times for 2027 [1]