Puma: Credit Suisse maintains neutral rating, raises TP

(CercleFinance.com) - Credit Suisse has increased its estimates for Puma's fourth quarter of 2020, although expects a slowdown in the recovery of sales and margins in 2021.


"Given Covid we are slightly more cautious about the outlook for 1H 21, notably 2Q", the broker says.

Even so, Credit Suisse has raised its 12-month targe price for the share to 86 euros - from 80 euros previously. However, given the share's 9% increase over the past 3 months, the broker maintains its "neutral" rating on the share.

In particular, analysts wonder about the potential delay in spending by confined households on clothing and particularly sporting goods, whose sales "did comparatively well during lockdown".


Copyright (c) 2021 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.