Adidas: Invest Securities raises target price.

(CercleFinance.com) - Invest Securities has raised its target price for the Adidas share from 130 euros to 145 euros on Adidas on Monday.

However, the broker has reiterated its "sell" rating on the stock, claiming that its valuation remains high, giving the group "no margin for error".

It nonetheless welcomes the group's preliminary Q2 accounts, which are significantly above expectations, thanks to the operational leverage, as well as management raising its 2017 targets.

Meanwhile, Invest Securities has raised its 2017-2019 EPS estimates by 10.5% on average. On average, it has raised its sales forecasts by 1.6% over the same period, while the group's EBIT margin is now expected to reach 9.2% in 2017, 9.5% in 2018 and 9.7% for 2019, compared with 8.5%, 8.7% and 9% respectively before.


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