ZURICH (dpa-AFX Broker) - The major Swiss bank UBS has lowered its target price for Puma SE from 51.00 to 48.50 euros and left its rating at "Neutral". She now has slightly lower expectations for the second quarter, updated exchange rate assumptions and raised marketing spend assumptions, analyst Zuzanna Pusz wrote in a report published on Wednesday. Accordingly, she lowered her earnings estimates (EPS) for the years up to 2026. Although the recent weak Nike figures should reduce competitive pressure in the wholesale sector, the lack of earnings momentum will probably continue to weigh on the sporting goods manufacturer's shares. Puma will continue to be measured against the increasing momentum of its larger competitor Adidas./gl/ck

Publication of the original study: 02.07.2024 / 22:00 / GMT

First dissemination of the original study: 02.07.2024 / 22:00 / GMT

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