(CercleFinance.com) – AlphaValue lowered its target price on Puma on Friday to 83.9 euros, against 96.7 euros previously, due to the uncertainty weighing on the current economic environment.
In a research note, the research office – which displays a ‘accumulate’ recommendation on the stock – points out that supply problems and the delicate context in China had already weighed on the group’s performance in the second half of 2021.
AlphaValue expects that the persistence of logistical problems, combined with inflationary pressures and geopolitical uncertainties, will continue to penalize the activity of the sports equipment supplier this year.
The Parisian firm is particularly concerned about the boycott movement affecting Xinjianget cotton and the recent resurgence of Covid in China, which it believes will affect the pace of growth in the short term, which is leading it to revise downwards its earnings forecasts for the group.
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