Amer Sports (AS)

• Market cap: $12.3B
• 1 day: -1.07%
• 5 days: 0.64%
• 1 month: -22.25%
• 3 months: -25.54%
• 6 months: 20.63%
• Year to date: -23.19%
• 1 year: 65.99%
• 5 years: 65.37%
• 10 years: 65.37%
• Sector: Consumer Discretionary
• Industry: Leisure

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: 13,400

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

389% more first-time investments, than exits

New positions opened: 88 | Existing positions closed: 18

367% more funds holding in top 10

Funds holding in top 10: 3 [Q3] → 14 (+11) [Q4]

168% more capital invested

Capital invested by funds: $1.81B [Q3] → $4.85B (+$3.04B) [Q4]

70% more repeat investments, than reductions

Existing positions increased: 63 | Existing positions reduced: 37

54% more funds holding

Funds holding: 130 [Q3] → 200 (+70) [Q4]

7.65% more ownership

Funds ownership: 22.44% [Q3] → 30.09% (+7.65%) [Q4]

55% less call options, than puts

Call options by funds: $7.56M | Put options by funds: $16.7M

Research analyst outlook

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

• Low target: $27 22% upside
• Avg. target: $34 55% upside
• High target: $42 90% upside

4 analyst ratings

• positive: 2 50%
• neutral: 2 50%
• negative: 0 0%

JP Morgan Matthew Boss 41% 1-year accuracy 33 / 81 met price target	81% upside $40	Overweight Maintained	3 Mar 2025
UBS Jay Sole 28% 1-year accuracy 16 / 58 met price target	90% upside $42	Buy Maintained	26 Feb 2025
Wells Fargo Ike Boruchow 35% 1-year accuracy 18 / 51 met price target	26% upside $28	Equal-Weight Maintained	26 Feb 2025
Morgan Stanley Alex Straton 59% 1-year accuracy 16 / 27 met price target	22% upside $27	Equal-Weight Maintained	21 Jan 2025