Puma: Berenberg raises target price
(CercleFinance.com) - Berenberg has raised its target price for Puma from 535 euros to 580 euros and maintains its "buy" rating on the stock of the German sportswear maker.
In a research note, the broker said that Puma's renewed focus on sports continues to support the brand, although Puma still lacks presence in the two largest sporting markets - the US and China.
"Basketball is one route to capture this opportunity and the early signs are encouraging," it said in the note.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
In a research note, the broker said that Puma's renewed focus on sports continues to support the brand, although Puma still lacks presence in the two largest sporting markets - the US and China.
"Basketball is one route to capture this opportunity and the early signs are encouraging," it said in the note.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.