(News Bulletin 247) – Jefferies reaffirms its ‘buy’ recommendation and its price target of 76 euros on Puma, noting that ‘the debut of new CEO Arne Freundt during the quarterly confirmed a continuity strategy, including a 2025 EBIT of ‘one billion euros’.
He said the disappointing investor reaction could be ‘linked to a reluctance to engage’ and ‘a signal for more sluggish sales growth in the United States’.
“On the other hand, the positive signs of January and February observed in China do not seem to be extrapolated in the annual objectives for the group”, estimates however the broker.
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