HSBC Lifts Amer Sports (AS) Price Target, Citing Portfolio Growth Potential

Amer Sports, Inc. (NYSE:AS) ranks among the best-performing European stocks to invest in. On August 27, HSBC raised its price target for Amer Sports, Inc. (NYSE:AS) from $38 to $50 and upgraded the company from Hold to Buy. After downgrading the shares late last year, HSBC has now admitted that it “underestimated the growth compounding nature” of Amer Sports’ portfolio.

Eugene Onischenko/Shutterstock.com

Although the Arc’teryx brand and the Greater China market used to be the main drivers of Amer Sports’ equity narrative, HSBC notes that the company’s formula for success is now spreading to other portfolio areas and Asian markets.

In particular, HSBC emphasized Salomon soft products, which showed robust sequential acceleration the past three years with low-double-digit sales CAGR in the Outdoor Performance category.

Based in Helsinki, Finland, Amer Sports, Inc. (NYSE:AS) is a multinational athletic goods corporation. The company owns a portfolio of brands, including Atomic, Arc’teryx, Armada, Enve Composites, Peak Performance, Salomon, and Wilson.

While we acknowledge the potential of AS to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AS and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds.

Disclosure: None. This article is originally published at Insider Monkey.