Amer Sports price target raised to $27 from $24 at UBS

UBS raised the firm’s price target on Amer Sports (AS) to $27 from $24 and keeps a Buy rating on the shares. UBS remains bullish on Amer’s Arc’teryx brand’s growth potential as well as Amer’s growth potential in China following the Q3 earnings report given the FY24 sales, gross margin, and EPS guidance raise, the analyst tells investors in a research note. Amer maintains very strong fundamentals, and UBS forecasts a 32% four-year EPS compound annual growth rate, with EPS “surprises” over the next few quarters.