Amer Sports Inc. (NYSE:AS) is a standout among the best high growth European stocks to buy, according to a recent report by Truist Securities. The firm recently raised its price target for AS to $46 from $45, while maintaining a Buy rating on the company’s shares. Truist highlighted the company’s “durable growth levers across the business” as the main reason for its bullish outlook.
The management of Amer Sports Inc. has laid out a long-term strategy for 2030, aiming for a revenue compound annual growth rate (CAGR) in the low double-digit to mid-teens range and an annual adjusted operating margin increase of 30-70 basis points or higher. Truist believes that achieving a 5-year earnings per share CAGR of over 25% and earnings per share exceeding $2.50 by fiscal year 2030 is realistic, given the company’s focus on growing its various brands and its successful track record in executing strategies in China.
Amer Sports Inc. operates in three segments: Technical Apparel, Outdoor Performance, and Ball & Racquet Sports. The company designs, manufactures, markets, distributes, and sells sports equipment, apparel, footwear, and accessories.
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In conclusion, Amer Sports Inc. (NYSE:AS) is a solid choice for investors seeking high growth potential in the European market. With a clear long-term strategy and a track record of success, the company is well-positioned for future growth. For more investment ideas and market insights, be sure to check out Insider Monkey for the latest updates.
