Adidas: Stifel raises target price

(CercleFinance.com) - Stifel has reiterated its 'buy' recommendation on adidas, raising its target price from E260 to E267, advising investors to take advantage of the German sports equipment maker's recent share price decline following its preliminary earnings release.


The broker highlights a sufficiently constructive tone from management to reassure, and points to a positive turnaround for North America, with thinner inventories and a stronger order book.

While the strengthening of the balance sheet may not lead to share buybacks in the short term, the group has not ruled them out in the longer term, Stifel also notes, adding that the priority is to return to a consistent dividend policy.


Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.