Amer Sports (AS)

• Market cap: $17.3B
• 1 day: 2.33%
• 5 days: -0.75%
• 1 month: 6.03%
• 3 months: 69.21%
• 6 months: 202.39%
• Year to date: 9.74%
• 1 year: 116.85%
• 5 years: 136.27%
• 10 years: 136.27%

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)

220% more first-time investments, than exits

New positions opened: 64 | Existing positions closed: 20

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

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

• Low target: $25 21% downside
• Avg. target: $31 3% downside
• High target: $37 17% upside

9 analyst ratings

• positive: 7 78%
• neutral: 2 22%
• negative: 0 0%

Morgan Stanley Alex Straton 75% 1-year accuracy 24 / 32 met price target	15% downside $27	Equal-Weight Maintained	21 Jan 2025
TD Cowen John Kernan 84% 1-year accuracy 51 / 61 met price target	4% upside $33	Buy Maintained	8 Jan 2025
Goldman Sachs Brooke Roach 70% 1-year accuracy 26 / 37 met price target	2% downside $31	Buy Maintained	8 Jan 2025
Citigroup Paul Lejuez 81% 1-year accuracy 29 / 36 met price target	14% upside $36	Buy Maintained	8 Jan 2025
Wells Fargo Ike Boruchow 64% 1-year accuracy 30 / 47 met price target	21% downside $25	Equal-Weight Maintained	20 Dec 2024