(News Bulletin 247) – Baader Helvea raised its recommendation on Puma to ‘buy’ versus ‘strengthen’ previously, believing that the stock offered an attractive risk/return profile.
In a note released on Friday evening, the Swiss financial intermediary argues that the stock is now trading on the basis of a discount of nearly 27% compared to its main comparables and some 50% compared to its averages. historical.
“At the current price level, it seems that the market is not expecting any growth in earnings per share (EPS) for the 2024 financial year, which seems to us to be an overly pessimistic scenario,” explains the Swiss establishment.
Due to a downward revision of its earnings forecasts, Baader however indicates that it has revised its price target for the stock from 70 to 60 euros.
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