Puma: Baader Helvea upgrades stock
(CercleFinance.com) - Baader Helvea has upgraded its rating on Puma shares to "buy" from "reinforce", believing that the stock offers an attractive risk/reward profile.
In its comments published on Friday evening, the Swiss broker points out that the share is now trading at a discount of nearly 27% to its main peers and about 50% to its historical averages.
"At the current share price level, it assumes that the market is pricing in no EPS growth for FY24E, which is in our view a too pessimistic scenario", the Swiss broker explains.
However, as a result of the reduction to its earnings forecasts, Baader has lowered its target price for the share from E70 to E60.
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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 its comments published on Friday evening, the Swiss broker points out that the share is now trading at a discount of nearly 27% to its main peers and about 50% to its historical averages.
"At the current share price level, it assumes that the market is pricing in no EPS growth for FY24E, which is in our view a too pessimistic scenario", the Swiss broker explains.
However, as a result of the reduction to its earnings forecasts, Baader has lowered its target price for the share from E70 to E60.
Copyright (c) 2023 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.