Adidas: UBS raises target price

(CercleFinance.com) - UBS notes no signs of a slowdown in the group's business.
The analyst confirms his 'buy' recommendation on the share and adjusts his target price to E279 (from E275). This new TP represents 19% upside potential.

Another quarter with sales growth of over 10% reinforces our positive stance on the rest of 2024 and 2025, UBS says.

adidas now expects revenues to grow at a high single-digit rate in 2024 - it previously expected a mid- to high-single-digit rate. Operating profit is now expected to reach around E1bn (vs. previously around E700m).


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