Puma: UBS starts tracking stock as a buyer

(CercleFinance.com) - The Puma share is up in Frankfurt on Thursday, benefiting from UBS comments, which highlights the sporting goods group's steady growth.


At 2.30 pm, the share is up almost 3%, hence making it one of the biggest winners in the he German mid-cap MDAX index, which is up a more timid 0.7%.

In its comments, UBS explains that the latest data it has shows that the Puma brand remains strong and that promotions are continuing to normalise.

"Market share gains & margin upside to drive further earnings momentum," the broker adds.

In this context, UBS is beginning to monitor the share with a "buy" rating and a target price of 94.4 euros, which gives it upside potential of 12% over the next 12 months.


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