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 hereThe 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: https://www.youtube.com/embed/vv8CPqEXFQM?feature=oembedAmer Sports is behind notable brands like Arc’teryxAmer Sports is the parent of notable athletic brands, including Arc’teryx that the Wall Street broadly sees as the “crown jewel” of its portfolio.
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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.
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