UBS remains neutral on the stock with an unchanged target of E41, representing a potential downside of 3%.

' Fourth-quarter sales of 1,982 million euros with currency-neutral growth of -4% and an EBIT margin of 4.7% were announced. Today's press release provides only further details on the division. DPS 0.82 E/share vs. 0.76 E (UBSe forecast is 0.72 E ' says UBS.

For 2024, Puma anticipates sales growth excluding currency effects 'in the mid-single-digit range', as well as EBIT between 620 and 700 million euros.

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