JPMorgan Affirms Overweight Rating on Li Ning, Citing Long-Term Stephen Curry Partnership as Brand Value Driver

Stock News
Jun 04

JPMorgan has released a research report stating that LI NING (02331) announced a long-term partnership on June 2nd with four-time NBA champion, two-time NBA Most Valuable Player Stephen Curry, and the Curry brand.

The firm believes this collaboration represents a landmark cooperation between a Chinese brand and a top-tier global NBA star, and is expected to bring positive benefits to Li Ning's brand equity, product offerings, and overseas expansion.

JPMorgan maintains its "Overweight" rating on the stock. Based on a discounted cash flow (DCF) calculation, it sets a target price of HK$25.6 for December 2026, which corresponds to 17 times the 12-month forward price-to-earnings ratio.

The report adds that while this partnership may take time to bear fruit and execution is a key factor, it will serve as a catalyst driving the brand's growth opportunities.

Furthermore, the firm anticipates that the financial impact of this collaboration on Li Ning's fiscal year 2026 performance will be limited.

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