** Stifel cuts Puma PUMG.DE to "hold" from "buy" after its shares lost a fifth of their value on Wednesday, as the sportswear brand's 2025 outlook served a "second consecutive shocker" this year
** "Two major consecutive setbacks in January and March 2025 lead to massive earnings revisions within a very short time frame," it says
** After the setbacks, Stifel flags an even more challenged mid-term 2027 guidance and lacking visibility on the success of Puma's brand elevation strategy
** Exane BNP Paribas also downgrades the stock to "neutral" from "outperform", saying the grim profit guidance is "more than a speedbump"
** Exane cites low visibility, less scope for a near-term re-rating and previews that profit may decline for several quarters
** "Given the sudden slowdown in sales in February, it is difficult to have strong conviction that sales will recover as early as Q2," it adds
** Out of 24 analysts that cover Puma, nine rate it "strong buy" or "buy", 14 "hold" and one "sell"
(Reporting by Tiago Brandao)
((Tiago.Brandao@thomsonreuters.com;))
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