Adidas: Stifel raises target price

(CercleFinance.com) - Stifel maintains a Buy rating on the stock, raising its target price to E280 (from E267).


The analyst points out that EBIT exceeded initial forecasts for FY 2024 by around E800m, while the shortfall compared with consensus amounted to around E350m.

We are raising our earnings estimates by 3%-4%, and our target price from E267 to E280. The main risk is the potential impact of tariffs on US inflation and consumer spending, Stifel adds.

Tariffs on Chinese imports are manageable after the major sporting goods companies have already largely removed the risks associated with sourcing from China, the broker says.


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