HSBC sees a rosy outlook ahead for Amer Sports . The bank upgraded shares of the sporting goods company — which owns Arc’teryx jackets that retail for hundreds of dollars, Salomon and Wilson brands — to buy from hold. Analyst Akshay Gupta also lifted his price target to $50 per share from $38, signaling nearly 23% upside. Gupta pointed to the strong “growth compounding nature” of the outdoor performance segment, especially on a global basis. “While the equity story was previously mostly driven by the Arc’teryx brand and the Greater China market, the recipe of success is already starting to work in other parts of the portfolio and in Asia,” he wrote. “In Asia ex Greater China, both Arc’teryx and Salomon continue to make great strides, with the region growing the fastest and contributing one-fifth to the group sales growth in first half of the year.” AS YTD mountain AS YTD chart Looking ahead, the analyst sees “strong sequential acceleration” for the stock, which could culminate in another leg of growth. “We expect this to be supported by a global roll-out of Arc’teryx and Salomon. By region, the group is doubling down on Greater China but also making fresh retail investments in other markets,” he said. Most of Arc’teryx’s 25 store additions this year will be concentrated in North America. Gupta expects a similar number of store openings in 2026, but a “more regionally balanced” mix. The company is also focusing on expanding its footprint when it comes to its Salomon and Wilson stores. As a near-term catalyst, Gupta pointed to Amer’s first ever Investor Day, which it will host on Sep. 18 in Vancouver. “Management is likely to provide long-term guidance for the entire portfolio along with a deep dive on the core asset Arc’teryx, for which it is likely to provide key building blocks for the global roll-out,” he added. Shares of Amer Sports have soared nearly 46% this year.
