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Wells Fargo Remains a Buy on Amer Sports, Inc. (AS)

Tipranks - Tipranks - Thu Jan 15, 4:48AM CST

Wells Fargo analyst Ike Boruchow maintained a Buy rating on Amer Sports, Inc. yesterday and set a price target of $50.00. The company’s shares closed yesterday at $38.26.

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Boruchow covers the Consumer Cyclical sector, focusing on stocks such as Bath & Body Works, Ross Stores, and Burlington Stores. According to TipRanks, Boruchow has an average return of 5.1% and a 50.10% success rate on recommended stocks.

Currently, the analyst consensus on Amer Sports, Inc. is a Strong Buy with an average price target of $47.37, implying a 23.81% upside from current levels. In a report released on January 8, Deutsche Bank also initiated coverage with a Buy rating on the stock with a $49.00 price target.

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Based on Amer Sports, Inc.’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.76 billion and a net profit of $143.1 million. In comparison, last year the company earned a revenue of $1.35 billion and had a net profit of $55.8 million

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