HSBC Lifts Amer Sports (AS) Price Target, Citing Portfolio Growth Potential

Amer Sports, Inc. (NYSE:AS) ranks among the best-performing European stocks to invest in. On August 27, HSBC raised its price target for Amer Sports, Inc. (NYSE:AS) from $38 to $50 and upgraded the company from Hold to Buy. After downgrading the shares late last year, HSBC has now admitted that it “underestimated the growth compounding nature” of Amer Sports’ portfolio.

Although the Arc’teryx brand and the Greater China market used to be the main drivers of Amer Sports’ equity narrative, HSBC notes that the company’s formula for success is now spreading to other portfolio areas and Asian markets.

In particular, HSBC emphasized Salomon soft products, which showed robust sequential acceleration the past three years with low-double-digit sales CAGR in the Outdoor Performance category.

Based in Helsinki, Finland, Amer Sports, Inc. (NYSE:AS) is a multinational athletic goods corporation. The company owns a portfolio of brands, including Atomic, Arc’teryx, Armada, Enve Composites, Peak Performance, Salomon, and Wilson.

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Disclosure: None. This article is originally published at Insider Monkey.