【里昂：安踏体育维持“跑赢大市”评级 目标价110港元】里昂发布研报称，维持安踏体育“跑赢大市”评级及目标价110港元，并将其列为首选股。安踏体育于10月7日宣布，完成以15.1亿欧元收购Puma 29.06%股权，成为其最大股东。该交易估值对应2027年预测企业价值对销售额比率约0.8倍，以及2025年市销率约0.7倍。预计安踏将取得Puma监事会两个席位，分别为主席及副主席，但不会直接管理日常运营，亦不会全面控制或合并Puma。
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