FRANKFURT (dpa-AFX) - Puma shares were among the biggest winners in the MDax on Wednesday, gaining 1.41 percent to 47.48 euros. They thus continued their stabilization after a price slide of up to around a quarter since the beginning of December.

The reason for the recent price losses was bad industry news. Shortly before Christmas, rival Nike shocked investors with a bleak sales outlook and in the new year, British sports and leisure fashion retailer JD Sports Fashion dampened the mood in the sector with a profit warning. This also weighed on Adidas shares. These rose by 0.4 percent in the middle of the week.

Analyst Jorg Philipp Frey sees a good opportunity with Puma. Although he lowered the price target from 99 to 93 euros in a study published on Wednesday, he still sees plenty of upside potential and confirmed his buy recommendation. Although weaker demand in Europe is not good for Puma either, the group is significantly less dependent on business in China than Nike and Adidas. Overall, Frey remains optimistic about Puma's growth./mis/men