Citi Upgrade Sends Puma Shares Higher as Bank Foresees China-Led Revenue Surge
Puma shares rose about 7% after Citigroup upgraded the stock to Buy from Neutral and raised its price target to €35, citing a potential China-driven growth cycle following Anta Sports' planned 29% stake acquisition. Citi projects strong China revenue growth, significant upside to Asia-Pacific forecasts and margin expansion over the coming years, wh…