Adidas: UBS still a buyer, adjusts TP
(CercleFinance.com) - Judging that the worst may be over, UBS reinstates its "buy" rating on adidas shares, while trimming its target price for them from 371 euros to 368 euros, which still gives the German sporting goods supplier's stock impressive upside potential of 37%.
"We believe the recent share price weakness creates a good entry opportunity as industry headwinds fade away," the broker says, which has adjusted its estimates ahead of Q3 results.
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