The company is benefiting from the growing popularity of sports fashion in China, according to Morgan Stanley, which raised its rating on the stock to overweight last week and lifted its share price target by 33%. Li Ning is also expected to benefit from patriotic spending amid China’s spat with the NBA, UOB Kay Hian said, boosting its recommendation to buy.
HONG KONG: The hottest sportswear brand in the world right now -- at least in the stock market -- is a Chinese firm founded by former Olympic gymnast Li Ning.
The eponymous company has more than tripled in Hong Kong trading this year, making it the top performer in on the MSCI Asia Pacific Index and the best gainer among apparel firms globally.
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