Adidas: UBS reiterates its buy recommendation on the stock

(CercleFinance.com) - UBS confirms its Buy recommendation on Adidas and leaves its target price unchanged at E279, representing 30% upside potential.


Widespread momentum, a promising product portfolio and an optimistic tone for 2025 should allay investors' concerns about the sustainability of growth, the broker says.

Q3 sales reached E6,438m, with growth of +10% in currencies (+14% excluding Yeezy) and a Q3 gross margin of 51.3%, with Q3 EBIT of E598m. Therefore, today's publication only provides additional details such as healthy growth by channel and category, UBS adds.

adidas now expects operating profit of E1.2bn for 2024 (vs. around E1bn previously).


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