UBS has maintained a Neutral rating on Puma SE with a price target of EUR43.90, citing challenges such as rising costs and a shift to a direct-to-consumer sales strategy that may hinder margin goals. Year-to-date, Puma's stock has dropped 31%, trading at historical lows, while Citi has revised its price target down to €32.00, reflecting a cautious outlook on sales growth and profitability. In contrast, CFRA initiated coverage with a Hold rating and a target of EUR49, highlighting Puma's brand strength and sustainability commitment amid economic headwinds.