BofA Securities Starts Amer Sports Inc. (AS) at Buy, 'See upside from continued global expansion'

BofA Securities analyst Lorraine Hutchinson initiates coverage on Amer Sports Inc. (NYSE: AS) with a Buy rating and a price target of $18.00.

The analyst comments "We are initiating coverage on Amer Sports (AS) with a Buy rating and $18 PO. Amer Sports is a portfolio of premium, performance driven brands led by Arc'teryx, Salomon, and Wilson. We think a valuation of 15.5x EV/EBITDA is compelling when considering its 13% sales growth and 20% EBITDA growth over the next three years. Our $18 PO is based on 17.5x EV/EBITDA and is supported by our sum of the parts analysis."

For an analyst ratings summary and ratings history on Amer Sports Inc. click here. For more ratings news on Amer Sports Inc. click here.

Shares of Amer Sports Inc. closed at $15.54 yesterday.

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