Puma: share up with Morgan Stanley more optimistic
(CercleFinance.com) - The Puma share is in second place in the MDAX index on Tuesday morning, after Morgan Stanley upgraded the share, highlighting the group's solid growth prospects.
At around 10:45 am, the share was up 3.2% at 62.5 euros, largely outperforming the German midcap index, which was up just 0.2%.
In its comments about sports equipment manufacturers, Morgan Stanley highlights the strong growth momentum in the sector, driven in particular by the strength of the US market and the acceleration of the direct-to-consumer sales model.
The broker especially likes Puma because of a valuation that is similar to that of adidas, for growth prospects that are considered to be much stronger.
Morgan Stanley has therefore upgraded its rating on the share from "Equal weight" to "Overweight" and has raised its corresponding target price from 59 euros to 72 euros.
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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.
At around 10:45 am, the share was up 3.2% at 62.5 euros, largely outperforming the German midcap index, which was up just 0.2%.
In its comments about sports equipment manufacturers, Morgan Stanley highlights the strong growth momentum in the sector, driven in particular by the strength of the US market and the acceleration of the direct-to-consumer sales model.
The broker especially likes Puma because of a valuation that is similar to that of adidas, for growth prospects that are considered to be much stronger.
Morgan Stanley has therefore upgraded its rating on the share from "Equal weight" to "Overweight" and has raised its corresponding target price from 59 euros to 72 euros.
Copyright (c) 2019 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.