UBS cuts Puma target to EUR 22.70 and keeps Puma stock Neutral

Published on 10/05/2026 at 13:54 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

PUMA's second-quarter 2026 sales fell 9.40 percent to EUR 1.69 billion. Puma stock costs EUR 22.03 on October 5, 2026 versus EUR 22.21.

Architektur-Render eines modernen Sport-Firmensitzes mit Laufbahn im Innenhof — PUMA SE (ISIN DE0006969603) praesentiert modernes Architektur-Rendering eines Sport-Firmensitzes mit Laufbahn und Glasfassade, Illustration mit AI erstellt.

Puma stock (ISIN DE0006969603) was trading at EUR 22.03 at Lang & Schwarz on October 5, 2026 at 1:44 p.m. CEST, versus a prior close of EUR 22.21. According to finanzen.ch on October 5, 2026, UBS cut its Puma price target from EUR 25.50 to EUR 22.70 and kept its Neutral rating.

UBS sees tougher trading conditions

UBS analyst Robert Krankowski said the business conditions for the sportswear company had deteriorated more than expected in the outlook for the quarterly results due on October 30, 2026. The target cut leaves EUR 22.70 only 3.03 percent above the Lang & Schwarz price of EUR 22.03, calculated in the same currency.

The analyst also expects pressure to persist beyond the transition year 2026 and into 2027, according to the same October 5, 2026 report. That assessment makes the upcoming results a test of whether PUMA's cost actions can offset weaker demand.

Second-quarter sales fell 9.40 percent

Yahoo Finance reported that PUMA's second-quarter 2026 sales declined 9.40 percent on a currency-adjusted basis. Reported operating result, or EBIT, was a EUR 53.10 million loss, compared with a EUR 109.00 million loss in the second quarter of 2025.

The earnings-call record also put second-quarter 2026 free cash flow at EUR 328.80 million and said the company confirmed its full-year outlook. Currency-adjusted sales are expected to decline in the low-single-digit to mid-single-digit range, while full-year EBIT is expected between a EUR 50.00 million loss and a EUR 150.00 million loss, according to Yahoo Finance.

October results set the next test

PUMA's investor-relations calendar lists October 30, 2026 for the third-quarter 2026 results, according to PUMA. Management has described the second half of 2026 as a period of gradual sales improvement, which gives the release a clear numerical benchmark against the second-quarter decline.

Market data place Puma's market capitalization at EUR 3.3 billion and its 52-week range at EUR 15.30 to EUR 30.31 as of October 5, 2026. The Lang & Schwarz price is 27.32 percent below that 52-week high, keeping the analyst target and the October results date central to the stock's near-term valuation debate.

Puma stock stays below its yearly high

Puma stock was trading at EUR 22.03 at Lang & Schwarz on October 5, 2026 at 1:44 p.m. CEST, minus 0.81 percent versus the prior close of EUR 22.21. The primary listing is on Xetra in euros, and the stock is a member of the MDAX, according to LYNX. The further course of trading is shown by the continuously updated real-time quote of Puma stock.