Amer Sports price target raised to $40 from $34 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Amer Sports (AS) to $40 from $34 and keeps an Equal Weight rating on the shares following the investor day. Amer’s new long-term targets are achievable but may leave little room for upward estimate revisions, the analyst tells investors in a research note. The firm believes visibility on the company’s positive out-year estimate revisions will likely be required for further multiple expansion.