markets ignored the ANTA is better than working capital management SWTOR Credits markets ignored t

Morgan Stanley buys Anta risk return better, dividends to attract Morgan Stanley issued a report Diablo 3 Gold, since July last year, sporting goods stocks remain cautious TERA Power Leveling, but preference Anta, because of their risk-reward good, strong cash flow generation capacity and attract the dividend rate. Morgan Stanley considers the unit to attract, "overweight" rating, and industry is expected to be in 2013 to recover. Report noted that declining profitability factors are reflected in the share price of Anta, so far this yearMarket to 2012 and the annual observation of the profit per share was down by 13, reflecting the 2012 orders back. The Bank believes that Anta cut order growth, is essential to help digestion and channel distributors inventory to ensure healthy long-term growth prospects. Morgan Stanley, markets ignored the ANTA is better than working capital management, end of last year, the company has 43.900 million Yuan (hereinafter the same) cash discounted from $ 3.1 billion in IPO, IPO late last year after accumulating $ 1.26 billion in cash. Compared to Li Ning (02331-HK) net $ 372 million in cash at the end of last year, less than $ 1.16 billion in 2010. The Bank said the new 2012 of the unit and its forecast earnings of 13 8.8.3 times and 5 times times times, ignoring the cash, you were 5.7 times times forecast earnings and 5.5 times. Company is committed to maintain the 60% dividend, dividend yield of about 7%. Others:

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