** 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;))