adidas: shares jump on broker upgrade
(CercleFinance.com) - adidas shares are up almost 4% on Wednesday after a brokerage firm upgraded the stock from "hold" to "buy," citing a "superstar" dominantly positioned in the attractive sportswear space.
Brand momentum has softened, but this is now captured in valuation, German broker Berenberg said in a note.
"We foresee an inflection point in momentum as supply constraints fade and product tailwinds build," the analysts added.
Berenberg has also raised its target price for the share from 206 euros to 315 euros.
adidas shares were up 3.6% at 272.2 euros this morning in Frankfurt.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Brand momentum has softened, but this is now captured in valuation, German broker Berenberg said in a note.
"We foresee an inflection point in momentum as supply constraints fade and product tailwinds build," the analysts added.
Berenberg has also raised its target price for the share from 206 euros to 315 euros.
adidas shares were up 3.6% at 272.2 euros this morning in Frankfurt.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.