Sign In  |  Register  |  About Daly City  |  Contact Us

Daly City, CA
September 01, 2020 1:20pm
7-Day Forecast | Traffic
  • Search Hotels in Daly City

  • ROOMS:

Wall Street says buy Amer Sports stock following its recent NYSE debut

By: Invezz
buy amer sports stock following nyse debut

Wall Street analysts are bullish on Amer Sports Inc (NYSE: AS) following its debut on the New York Stock Exchange on February 1st.

Amer Sports stock has over 30% upside from here

The Finnish company was expected to price its initial public offering at $16 a share to $18 a share.

But it actually did IPO at a much lower $13 per share – raising a total of $1.37 billion. Still, Goldman Sachs analyst Brooke Roach rates Amer Sports stock at “buy” with upside to $21. Her research note reads:

We view $AS as a compelling portfolio of premium, innovation-led brands with healthy growth opportunity. The company has significant scope for profitable growth and margin expansion.

Her price objective suggests Amer Sports shares could gain more than 30% from here.

Watch here: Sports is behind notable brands like Arc’teryx

Amer Sports is the parent of notable athletic brands, including Arc’teryx that the Wall Street broadly sees as the “crown jewel” of its portfolio.  

IPOs are back (kind of)
Walmart announcing a stock split
Big frenzy in tech stocks underway

Is it 2021 again for markets ?

— Gunjan Banerji (@GunjanJS) February 26, 2024

Roach is convinced the sporting equipment company will do well as it continues to expand in direct-to-consumer and explore new geographies – particularly China. Inclusion of new categories may help grow its market share as well, she added.

Note that experts from the Bank of American, JPMorgan, Citibank, and Morgan Stanley also assumed coverage of Amer Sports stock today with a buy or buy-equivalent rating.

On average, Wall Street sees upside in $AS to over $19 a share – up close to 20% from here.

The post Wall Street says buy Amer Sports stock following its recent NYSE debut appeared first on Invezz

Data & News supplied by
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Copyright © 2010-2020 & California Media Partners, LLC. All rights reserved.