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Puma: Wedbush Securities maintains 'neutral' rating

(CercleFinance.com) - Wedbush Securities maintains its "neutral" rating on Puma, with a price target of 68 euros, before the German sports goods maker reports its results in mid-February.

According to the brokerage firm, management should issue full-year 2020 guidance to a level likely below consensus, given current FX headwinds.

However, greater full-year upside confidence and a more supportive valuation are needed to become more positive on shares, Wedbush writes in a note.

Puma shares were up 1.2 percent at 68 euros on Friday, outperforming the German stockmarket.

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