Amer Sports Inc: Reiterate Buy; Lots of mountain left to climb

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Amer Sports Inc: Reiterate Buy; Lots of mountain left to climb

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Amer Sports Inc

Reiterate Buy; Lots of mountain left to

climb

Reiterate Rating: BUY | PO: 46.00 USD | Price: 33.88 USD

Answering the big questions 09 June 2026

We view Amer Sports as a top tier growth story because it has built and scaled dual Equity

growth engines that are both early in the expansion curve. It has created an operating

playbook that produces repeatable results, and it operates from a position of strength, Lorraine Hutchinson, CFA Research Analyst

with the ability to fund and chase future growth. This note addresses the 11 strategic BofAS

questions that we view as the most relevant to the key debates including digging into +1lorraine.hutchinson@bofa.com646 855 0951

the growth trajectory of each brand, margins, channels, the capital structure and fashion. Ryan Abbadi

We reiterate our Buy rating. Research Analyst

BofAS

Arc’teryx remains the anchor +1ryan.k.abbadi@bofa.com646 855 2279

Arc’teryx has scaled from a specialty equipment manufacturer to a performance and, by

extension, lifestyle brand. This transformation is a key proof point to AS’ playbook, and

how it drive differentiated growth. While it is AS’ largest brand and most productive Stock Data

margin contributor, we see still significant opportunity for outsized expansion in almost

every global region. Unit growth should combine with comparable sales as brand Price 33.88 USD

awareness expands driving an avg. of high-teens sales growth over the next 3 years. Price Objective 46.00 USD

Date Established 19-Sep-2025

Salomon is a multiplier Investment Opinion C-1-9

Salomon has carved out its own specific niche within the winter equipment, 52-Week Range 28.92 USD - 42.76 USD