Amer Sports Stock Upgraded as Tibet Fireworks Controversy Fades

Amer Sports received an upgrade from Wells Fargo, which raised its stock rating to “Overweight” and lifted its price target to $40 from $35. The move follows controversy over a September marketing campaign by Amer’s Arc’teryx brand, which staged a fireworks display in Tibet, drawing criticism globally over environmental harm and cultural disrespect. Wells Fargo said checks in China indicated the backlash was “short-lived” and had no effect on demand. Analysts noted Amer’s ties with Anta Sports, its largest shareholder, helped ease fallout. Arc’teryx has apologized and pledged preventive measures.