Puma benefits from Goldman target hike, shares advance in Xetra trade

By Anna Wagner, Analysts & Consensus desk. Reviewed prior to publication on 2026-06-24, 09:46.

Puma (DE0006969603) is drawing renewed attention on Xetra after a fresh target hike from Goldman Sachs. The US investment bank today raised its price target to 33 euros and reiterated a Buy rating on the sporting-goods company, according to a MarketScreener summary of the research note. Goldman raises target for Puma to 33 euros

What Goldman Sachs signals

The latest Goldman Sachs update keeps its positive stance on Puma and lifts the 12-month price target from a previous level to 33 euros, implying double-digit upside versus the current market price near 26 to 27 euros. MarketScreener research summary The report, published on June 24, 2026, confirms a Buy recommendation and comes as the shares trade around 26.8 euros in early European dealings.

According to the same MarketScreener compilation, Deutsche Bank recently reiterated a Neutral rating on Puma with a target price of 25 euros, underscoring a divided analyst view between a more cautious stance from Frankfurt and the more constructive call from Goldman Sachs. Deutsche Bank maintains Neutral at 25 euros The average analyst target across houses cited by MarketScreener clusters around 29.36 euros, roughly low double-digit percentage potential above the last close.

Analyst consensus and recent volatility

Recent commentary from Bernstein has highlighted downside risks for Puma’s upcoming second-quarter results, contrasting with the more upbeat Goldman view. Investing.com note on Bernstein’s Q2 outlook In that analysis, Bernstein projects a 9 percent decline in second-quarter revenue at constant currency and a 9.6 percent reported drop, alongside an expected net loss of 83 million euros and EBIT of minus 46 million euros.

The same Bernstein estimates foresee an adjusted EBIT (AEBIT) of minus 34 million euros for the quarter and operating expenses around 850 million euros, including roughly 12.5 million euros in one-off items. Bernstein’s detailed earnings assumptions Despite the cautious near-term earnings profile, Bernstein has lifted its gross-margin expectation to 47.3 percent, citing lower promotional intensity, a better direct-to-consumer mix and higher prices on discounted inventory.

How Puma earns its money

Puma generates the bulk of its revenue from performance and lifestyle footwear, complemented by apparel and accessories for sports such as running, football and motorsports. Flagship product lines include the Puma Suede and RS sneaker series, as well as football boots and teamwear supplied to clubs and national teams worldwide.

Where the shares trade today

The Puma shares (DE0006969603) trade on Xetra at 26.73 euros as of 2026-06-24, 09:15, according to Baader Bank price data disseminated via Börsennews.

Disclaimer: This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any security. All data are based on sources considered reliable but cannot be guaranteed. Investors should conduct their own research before making investment decisions.