Amer Sports price target raised to $54 from $52 at UBS

UBS raised the firm’s price target on Amer Sports (AS) to $54 from $52 and keeps a Buy rating on the shares. Amer’s Arc’teryx and Salomon brands have strong growth opportunities, with the Q3 beat and raise report reinforcing the firm’s conviction, the analyst tells investors in a research note. While some are still cautious on Amer’s outlook given its high leverage to China and fears around Arc’teryx’s potential slowdown, the market underappreciates the strength of Amer’s business model, UBS says. The firm forecasts a 32% 5-year EPS CAGR.