Adidas: the share gains 1%, UBS raises its target
(CercleFinance.com) - At the end of the day, Adidas shares were up by more than 1%, benefiting from a positive analysis by UBS.
The analyst notes no signs of a slowdown in the Group's business. UBS therefore confirms its buy recommendation on the share and adjusts its target price to E279 (from E275). This new target represents a potential upside of 19%.
'Another quarter with sales growth of over 10% reinforces our positive stance on the rest of 2024 and 2025' says UBS.
adidas now expects revenues to grow at a high single-digit rate in 2024. The Group previously expected a mid- to high-single-digit rate. Operating profit is now expected to reach a level of around 1.0 billion euros (previously around 700 million euros).
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