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Puma: Commerzbank sticks with 'hold' rating.

(CercleFinance.com) - Commerzbank maintains its "hold" rating on Puma with a target price of 360 euros, saying that the brand's momentum remains "strong.

The German group raised its full-year outlook yesterday after another positive quarter when it achieved double-digit growth in all regions, in both footwear and apparel.

"It shows that fast sales growth can be achieved in global sportswear despite US sport and life-style retailers reporting weak numbers," Commerzbank said today.

However, the broker sticks to its "hold" rating, saying that the good news is now already priced in.

The Puma stock was down 0.1% this morning after jumping over 4% yesterday.

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