Amer Sports price target raised to $25 from $20 at Wells Fargo

Wells Fargo raised the firm’s price target on Amer Sports (AS) to $25 from $20 and keeps an Equal Weight rating on the shares. The price target increase reflects the company’s secondary offering, which will be used to pay down about $1B in debt, resulting in roughly $55M in tax-free interest savings and will be around 5c accretive to FY25 EPS, the analyst tells investors in a research note.