Puma stock gained ground in trading after a wave of analyst optimism and a favorable macro session. Shares rose 3.3% to trade at EUR 28.92 following an upgrade from HSBC, which moved the German sportswear group from Hold to Buy and increased its price target from EUR 26 to EUR 35.
HSBC's upgrade emphasized the strategic significance of Anta Sports’ planned acquisition of a 29.06% stake in Puma. The bank also raised its FY27–28 EBIT forecasts by roughly 8% on average and said it expects China-related growth to become visible as early as late 2027, contingent on regulatory approvals that are expected by year-end.
The HSBC call built on recent analyst momentum. Citigroup upgraded Puma to Buy on June 14, likewise highlighting the China growth opportunity made possible by the partnership with Anta. That momentum contrasted with a more cautious position from RBC Capital, which kept a Hold rating as recently as June 10.
Market conditions amplified the positive response. The trading session was characterized as strongly risk-on, with surging U.S. technology and growth indices providing a supportive tailwind for consumer cyclical stocks listed on European exchanges. Puma’s domestic German market also benefited from that constructive environment.
Technical indicators showed the stock had already been gaining traction: Puma crossed its 20-day moving average on June 12 and has been in a longer-term uptrend since late March. Those technical developments, combined with the fresh institutional upgrade and the strategic deal with Anta, helped push the share price closer to its 52-week high of EUR 30.31.
The convergence of a high-conviction institutional upgrade, confirmation of a strategic partnership that opens a major new market avenue in China, a recent prior upgrade still present in investors’ minds, and a broadly positive macro backdrop contributed to the meaningful intraday advance in Puma shares.
Market data referenced in this article: Puma shares were trading at EUR 28.92 after a 3.3% rise, with a 52-week high of EUR 30.31. HSBC raised its price target from EUR 26 to EUR 35 and lifted FY27–28 EBIT forecasts by about 8% on average. Anta Sports plans to acquire a 29.06% stake, with regulatory approvals expected by year-end. Citigroup upgraded Puma to Buy on June 14; RBC Capital held a Hold as of June 10.