Puma upgraded to "buy"

23.05.06 - Commerzbank Corp. & Markets

LONDON, May 23 (newratings.com) - Analysts at Commerzbank Corporates & Markets upgrade Puma AG (PUM) from "hold" to "buy." The target price is set to ?330.

In a research note published this morning, the analysts mention that despite Puma?s robust fundamentals, the company?s share price has depreciated by 19% since the beginning of this month. The decline is likely to have been overdone, the analysts add.