UBS has lowered its target price for Puma SE from 48.50 euros to 43.50 euros, while keeping a "Neutral" rating on the stock.
Analyst Robert Krankowski pointed out that Puma is currently not performing well, suggesting that it is too early to have a positive outlook on the company's shares.
The change in sentiment comes after a recent capital market day, where initial optimism about profitability has turned into challenges. This change makes it difficult for Puma to achieve its profitability targets for 2025.