Puma stock reacts as Bank of America cuts price target ahead of Anta stake approval

Published on 09/18/2026 at 12:14 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Puma stock traded at EUR 22.29 on Xetra on September 17, 2026 after Bank of America cut its price target from EUR 26 to EUR 21 and kept an Underperform rating. Anta’s planned acquisition of a 29.06 percent stake in Puma has meanwhile received key regulatory approval.

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Puma SE stock (ISIN DE0006969603) traded around EUR 22.29 on Xetra on September 17, 2026 after Bank of America reduced its price target for the shares from EUR 26.00 to EUR 21.00 while reiterating an Underperform rating, signaling expectations that the stock will lag sector peers in the coming year as reported by Borsen-Zeitung on September 17, 2026.

Analyst downgrade pressures Puma stock

According to Borsen-Zeitung on September 17, 2026, Bank of America lowered its 12 month price target for Puma from EUR 26.00 to EUR 21.00 and kept its rating at Underperform, a move that implies a downside of roughly 5.8 percent from the Xetra price of EUR 22.29 at the time of the report if the new target is reached.

The same report from Borsen-Zeitung on September 17, 2026 highlighted that Bank of America also cut its price target for Adidas while keeping Puma at Underperform, underscoring that the bank expects Puma shares to underperform comparable sportswear names over the coming 12 months.

Anta becomes Puma’s largest shareholder

As 36Kr Europe reported on September 18, 2026, China based sportswear group Anta Sports Products Limited has received regulatory clearance from China’s State Administration for Market Regulation for its planned acquisition of a significant minority stake in Puma SE, with the antitrust review completed on August 31, 2026.

According to 36Kr Europe, Anta entered into a share purchase agreement on January 26, 2026 to acquire 43,014,760 ordinary shares of Puma at EUR 35.00 per share, corresponding to a total consideration of EUR 1.5055 billion, and after completion Anta will hold 29.06 percent of Puma’s equity, becoming the single largest shareholder while Puma remains independently governed.

Stock level and valuation context

Per Xetra data as cited by Ad hoc news on September 17, 2026, Puma stock changed hands at around EUR 22.29 that day on the primary listing in Frankfurt, following the Bank of America target cut, and remained below the former EUR 26.00 price target and also clearly under the EUR 35.00 per share level that Anta agreed to pay for its strategic stake in January 2026.

The same article from Ad hoc news on September 17, 2026 noted that at EUR 22.29 the share price stands markedly below the EUR 35.00 transaction price of Anta’s agreed stake purchase, underscoring a roughly 36.3 percent discount between the market level and the consideration paid in the strategic deal.