Amer Sports price target raised to $42 from $30 at Citi

Citi raised the firm’s price target on Amer Sports (AS) to $42 from $30 and keeps a Buy rating on the shares. The company’s Q1 was a “standout quarter,” underscored by 28% Arc’teryx growth and 25% Salomon growth, the analyst tells investors in a research note. The firm projects “very strong” double-digit earnings growth over the next several years for Amer, “justifying a premium multiple.” At current levels, Citi views the stock’s risk/reward as favorable “for what is one of the best growth stories in retail.”