Puma: Wedbush Securities maintains 'neutral' rating
(CercleFinance.com) - Wedbush Securities maintains its "neutral" rating on Puma, with a price target of 68 euros, before the German sports goods maker reports its results in mid-February.
According to the brokerage firm, management should issue full-year 2020 guidance to a level likely below consensus, given current FX headwinds.
However, greater full-year upside confidence and a more supportive valuation are needed to become more positive on shares, Wedbush writes in a note.
Puma shares were up 1.2 percent at 68 euros on Friday, outperforming the German stockmarket.
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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.
According to the brokerage firm, management should issue full-year 2020 guidance to a level likely below consensus, given current FX headwinds.
However, greater full-year upside confidence and a more supportive valuation are needed to become more positive on shares, Wedbush writes in a note.
Puma shares were up 1.2 percent at 68 euros on Friday, outperforming the German stockmarket.
Copyright (c) 2020 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.