Amer Sports Inc (NYSE:AS) stock is surging today, up 7.6% at $33.09 at last glance, after the Wilson and Arcteryx parent posted better-than-expected third-quarter earnings and revenue and lifted its full-year forecast.
AS has only been publicly traded since February 2024. Though the stock has pulled back from its Aug. 25 record high of $42.33, it's still up 18.5% since the start of the year. Today, the shares are grappling with the 200-day moving average, which kept a lid on rallies through October.
Over in the options pits, Amer Sports stock has seen 9,172 calls and 3,364 puts exchanged so far -- 6 times the average daily options volume. The November 32.50 call is the most popular contract, and also happens to be the top open interest (OI) position.
Though J.P. Morgan Securities lowered its price target yesterday, today's report triggered a revised hike to $51. Analysts are mostly bullish on the stock, with 13 of 15 brokerages in coverage carrying a "strong buy" rating, and two a "hold." Meanwhile, the 12-month consensus price target of $44.21 is a 33.3% premium to current levels.
