Amer Sports (AS)

• Market cap: $15.1B
• 1 day: 2.86%
• 5 days: 5.53%
• 1 month: 40.36%
• 3 months: 90.56%
• 6 months: 92.95%
• Year to date: 106.34%
• 1 year: 106.34%
• 5 years: 106.34%
• 10 years: 106.34%

About: Amer Sports manages a diverse portfolio of 10 outdoor and action sports brands that collectively generated revenue of $4.4 billion in 2023. Although primarily owned by the Chinese conglomerate Anta Sports, Amer operates with a degree of autonomy. In its rapidly expanding China business, the company is subject to closer oversight, but it manages its operations outside of China with relative independence. In 2023, the firm generates 40% of its revenue from the Americas, 33% from Europe, the Middle East, and Africa, 19% from China, and 7% from Asia-Pacific, excluding China.

Employees: 11,400

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

205% more first-time investments, than exits

New positions opened: 64 | Existing positions closed: 21

49% more funds holding

Funds holding: 87 [Q2] → 130 (+43) [Q3]

46% more call options, than puts

Call options by funds: $497K | Put options by funds: $341K

28% more capital invested

Capital invested by funds: $1.42B [Q2] → $1.81B (+$394M) [Q3]

3% more repeat investments, than reductions

Existing positions increased: 32 | Existing positions reduced: 31

0.17% more ownership

Funds ownership: 22.27% [Q2] → 22.44% (+0.17%) [Q3]

0% more funds holding in top 10

Funds holding in top 10: 3 [Q2] → 3 (+0) [Q3]

Research analyst outlook

16 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $19 31% downside
• Avg. target: $24 12% downside
• High target: $30 8% upside

16 analyst ratings

• positive: 13 81%
• neutral: 3 19%
• negative: 0 0%

Evercore ISI Group Michael Binetti 61% 1-year accuracy 28 / 46 met price target	9% upside $30	Outperform Maintained	12 Dec 2024
Goldman Sachs Brooke Roach 66% 1-year accuracy 23 / 35 met price target	1% upside $28	Buy Maintained	10 Dec 2024
TD Cowen John Kernan 80% 1-year accuracy 45 / 56 met price target	5% upside $29	Buy Maintained	9 Dec 2024
Baird Jonathan Komp 85% 1-year accuracy 17 / 20 met price target	9% upside $30	Outperform Maintained	9 Dec 2024
Wells Fargo Ike Boruchow 63% 1-year accuracy 27 / 43 met price target	28% downside $20	Equal-Weight Maintained	20 Nov 2024