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Puma initiated with a Buy at Redburn

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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