Brand ValuePuma's strong brand history gives it a platform from which to execute a turnaround, and the early signs of brand heat in running support this.
Financial ValuationPuma looks close to the bottom on an EV/Sales basis, trading at 0.7x vs. peer range of 0.4x-1.6x, which supports the risk/reward asymmetry.
LeadershipA new CEO has taken decisive action to manage expectations, which is seen as the right move.