---
title: "《大行》野村看好安踏收购 Puma 股份潜力 重申「买入」评级"
description: "野村发表研报称，安踏体育提出收购 Puma 29% 股份的要约，已获得融资，但进展停滞。野村认为，若安踏以合理估值完成收购，将有利于公司发展，因 Puma 在运动休闲、足球和篮球领域有强大品牌实力，且该收购可与安踏现有品牌组合互补。野村重申对安踏的「买入」评级。"
type: "news"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/272210824.md"
published_at: "2026-01-12T02:41:39.000Z"
---

# 《大行》野村看好安踏收购 Puma 股份潜力 重申「买入」评级

> 野村发表研报称，安踏体育提出收购 Puma 29% 股份的要约，已获得融资，但进展停滞。野村认为，若安踏以合理估值完成收购，将有利于公司发展，因 Puma 在运动休闲、足球和篮球领域有强大品牌实力，且该收购可与安踏现有品牌组合互补。野村重申对安踏的「买入」评级。

野村发表研报指，据《路透》日前报道，安踏体育 (02020.HK) 提出收购 Puma 29% 股份，数周前提出了此要约，并已为潜在收购取得融资，但目前进展陷入停滞。

野村认为，因 Puma 历来在全球范围内透过运动休闲、足球和篮球等领域建立起强大的品牌实力，若安踏能以合理估值完成对 Puma 股份的潜在收购，将对安踏有利，因安踏目前相对更专注於跑步与户外领域，该收购可与公司现有品牌组合进行互补。

野村重申予安踏 (02020.HK)「买入」评级。

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- [02020.HK - 安踏体育](https://longbridge.com/zh-CN/quote/02020.HK.md)

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