FRANKFURT (dpa-AFX) - Puma shares are continuing their recovery rally after the annual figures. On Tuesday, they rose by 0.6 percent to 42.67 euros. They peaked at a good 44 euros, their highest level since mid-January. At the beginning of February, they had reached a low since 2018 at 35.60 euros, but since then the recovery has amounted to around a fifth. Despite a decline in profits, Puma intends to pay a stable dividend.

The sporting goods manufacturer's final results were in line with expectations after the key data presented in January, said Deutsche Bank analyst Adam Cochrane in a study. The outlook was also not surprising. While the mood among Puma investors is still subdued, the company is returning to positive earnings momentum. The valuation of the shares remains well below that of competitors.

Against this background, expert Cochrane sees the enormous price potential of the shares underpinned: with a target of 63 euros, the expert sees almost half the upside and is therefore not even the greatest optimist. The experts at Goldman Sachs and Warburg see much more potential with a target of up to 88 euros./tih/jha/