Amer Sports price target raised to $35 from $25 at Wells Fargo

Wells Fargo analyst Ike Boruchow raised the firm’s price target on Amer Sports (AS) to $35 from $25 and keeps an Equal Weight rating on the shares. The firm notes the company posted yet another material beat in Q1-with upside across all brands and metrics. While valuation is a sticking point, in such a dynamic macro, it’s hard to poke any holes in the story today, Wells argues.