adidas: Bryan Garnier upgrades to 'buy', raises target price

(CercleFinance.com) - Bryan Garnier has upgraded its rating on the adidas stock from "neutral" to "buy" and raised its target price to 220 euros from 180 euros, citing a "very attractive growth/valuation profile".


The German athletic footwear and apparel maker achieved "outstanding" results in 2017 and raised its 2020 profitability targets, confirming that it was speeding up and executing the implementation of its strategic initiatives well, analysts wrote in a report.

Bryan Garnier said the stock offers one of the most attractive price/earnings to growth (PEG) ratios for 2017 (1x) in its consumer universe.

adidas shares are currently up 1.7% at 199 euros on Thursday.

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