Bernstein lowered the firm’s price target on Amer Sports (AS) to $32 from $38 and keeps an Outperform rating on the shares ahead of quarterly results. The firm notes Amer Sports’ stock has declined over 20% since the peak in 2025 with concerns around the tariff announcement, with price to earnings multiples contracting from 47-turns to 33-turns. Despite near-term challenges, Bernstein believes Amer Sports premium brand portfolio and growth opportunities support a compelling long-term outlook.
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