Redburn initiated coverage of Puma with a Buy rating and EUR 70 fair value estimate, telling investors that there "is a lot to admire" about Puma’s industry outperformance on sales and gradually improving margins. The brand story is not "done" and the "hard" derating of the shares has created an opportunity, the analyst added.
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Published first on TheFly
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Read More on PUMSY:
- Puma downgraded to Neutral from Buy at UBS
- Puma price target lowered to 3,180 GBp from 3,620 GBp at Deutsche Bank
- Puma price target lowered to EUR 70 from EUR 82 at Berenberg
- Puma downgraded to Neutral from Overweight at JPMorgan
- Puma price target raised to EUR 73 from EUR 65 at RBC Capital
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