Amer Sports trims price target to $45 after strong Q1 growth but faces valuation concerns.

Amer Sports reported a strong Q1 2026 with revenue up 32% and adjusted EBITDA rising over 30% to $432 million, prompting an upward revision of its full-year financial guidance. Key brands like Arc'teryx and Salomon drove this growth across all markets and sales channels. However, analysts have lowered the consensus price target from $52 to $45, reflecting concerns about the sustainability of high profit margins and the impact of recent share issuance on valuation. The company is set to release Q2 earnings on August 18, which will provide further insight into its growth trajectory and financial health.