Li Ning Co. (LNNGY) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Li Ning Co. (OTCMKTS:LNNGY) from a hold rating to a buy rating in a research report report published on Tuesday. Zacks Investment Research currently has $20.00 target price on the stock.

According to Zacks, “Li Ning Company Limited operates as a designer, developer, manufacturer and distributor of sports footwear, apparel, accessories and equipment for sport and leisure uses under its own LI-NING brand in the Peoples’ Republic of China. Additionally, the Group distributes sports products under its Z-DO brand via hypermarket channel; manufactures, markets, distributes and sells outdoor sports products under the French brand AIGLE and engages in manufacture, research and development, marketing and sale of table tennis and other sports equipment under the Double Happiness brand. The Company also develops, manufactures, markets, distributes and sells the licensed products under the Italian sports fashion brand Lotto; and engages in the research and development, manufacture and sale of professional badminton equipment under the Kason brand. Li Ning Company Limited is headquartered in Causeway Bay, Hong Kong. “

Li Ning (LNNGY) opened at 18.59 on Tuesday. The company has a 50 day moving average of $18.19 and a 200-day moving average of $17.87. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 16.17 and a beta of -0.82. Li Ning has a 12-month low of $17.76 and a 12-month high of $18.59.

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