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).

Copyright (c) 2024 CercleFinance.com. All rights reserved.