Puma gains 3% and clearly outperforms the trend in Frankfurt, on the back of favorable comments from UBS, which raises its target price for the sporting goods supplier from 44 to 51 euros, while maintaining its 'neutral' recommendation.

Puma's quarterly results exceeded expectations, with positive comments on the second quarter and favorable winds for gross margin, reinforcing the market's confidence in the company", said the broker in the summary of its note.

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