Puma downgraded to "hold"

08.05.08 - Deutsche Bank

LONDON, May 8 (newratings.com) - Analyst Jamie Isenwater of Deutsche Bank downgrades Puma AG (PUM) from "buy" to "hold." The target price has been reduced from ?310 to ?250.

In a research note published this morning, the analyst mentions that the company has reported its 1Q results short of expectations. There is lack of clarity regarding Puma's 2H08 prospects and there is limited upside to the company's share price in the near term, the analyst adds.