滔搏：This is likely a rocky-road turnaround

M N 24 May 2024 CMB International Global Markets | Equity Research | Company Update Topsports (6110 HK) This is likely a rocky-road turnaround High bases are tough for both industry and Topsorts and we are cautious about Target Price HK$6.78 1Q25E. However, the turnaround in next few quarters is still an important (Previous TP HK$9.23) catalyst. Also, thanks to the 7% FY2/25E yield, we think the downside is limited. Up/Downside 23.5%  4Q24 retail sales growth was slow and there are still some pressure in C ...