Puma (PUMX.DE) Q3 update – Strong quarter owing
to recovery in America and EMEA
What’s happened? European Focus List constituent PUMX.DE reported
strong Q3 FY20 results, beating estimates in all metrics. Revenue grew
7% (+13% excl FX) beating consensus estimates by 2%. This was driven
by the strong recovery in improvement in the Americas (+20.7% in Q3
versus -45.1% in Q2) and EMEA (+17.7% in Q3 versus -31.3% in Q2). We
recommend that investors hold on to positions as it is extended from an
ideal buy point. Wait for a pullback to the 50-DMA before accumulating