FRANKFURT (dpa-AFX) - After the previous day's ten percent slump, there are no signs of a recovery for Puma shares on Thursday. In pre-market trading on the Tradegate platform, the share price fell by a further 0.8 percent compared to the Xetra closing price, already at its lowest level since 2018. Several experts reacted with downgrades to the disappointment that had emerged the day before following an interim report from the sporting goods manufacturer.

Jefferies, Oddo BHF and Societe Generale have now given up their positive assessments. Oddo put a question mark behind the future operational maneuverability due to a high and inflexible cost base. Antoine Riou of Societe Generale mentioned that there are now too many uncertainties and a lack of short-term price drivers. James Grzinic of Jefferies capitulated despite an already weak share price performance recently, as he emphasized. He also pointed to margin uncertainty and a lack of traction.

However, there was also one voice of encouragement after the share price slide: The private bank Hauck & Aufhäuser stands out among the analysts with a freshly issued buy recommendation. Christian Salis believes that all the bad news is now priced in, as Puma shares are the second worst MDax stock in 2024 with a discount of almost 24 percent.

Despite the ongoing economic uncertainty, Salis expects Puma to continue to record solid sales and earnings growth - driven by sustained market share gains and major sporting events coming up in the course of the year. He referred to the European Football Championships and the Olympic Games./tih/ajx/stk