Adidas: UBS downgrades buy rating

(CercleFinance.com) - UBS has downgrades its buy rating on the stock of the German sports equipment manufacturer Adidas, having now adopted a neutral stance.


The broker has cut its 12-month target price from 240 euros to 210 euros, while the share is currently trading at about 203 euros (-2.7%) in Frankfurt this morning.

Analysts mention "global cooling" in North America: indeed, their main argument in favour of the group was the prospect of seeing it increasing (in the medium term) its share of the North American shoe market to 15%.



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