Puma ?neutral?

02.02.06 - J.P. Morgan Securities

LONDON, February 2 (newratings.com) ? Analyst Melanie Flouquet of JP Morgan reiterates her "neutral" rating on Puma AG (PUM).

In a research note published this morning, the analyst mentions that the company is scheduled to report its Q405 results on February 10. The analyst expects Puma to report 26% constant currency growth in backlogs to ?1,055 million, boosted by its Asian joint venture. Puma?s European backlogs are expected to have increased during the quarter on account of the World Cup orders, JP Morgan says.