PMMAF - Puma: A Mix Of Positives And Negatives

2024-03-26 12:50:14 ET

Summary

• The negative read-throughs from PUMA SE management commentary and guidance provided by Puma's peers suggest that the company's near-term prospects will be challenging.
• On the other hand, there are positive takeaways from Puma's 2024 Capital Markets Day event relating to its financial outlook and its capital return policy for the intermediate-to-long term.
• A mix of positives and negatives translates into a Hold rating for Puma shares.

Elevator Pitch

My rating for PUMA SE ( PMMAF , PUMSY ) [PUM:GR] stays as a Hold. I touched on the company's mid-term financial outlook and its share price underperformance in my initiation article published on January 11, 2024....

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