Adidas: Crédit Suisse raises price target
(CercleFinance.com) - Crédit Suisse stays on 'Underperform' on Adidas, but raises its price target to 240 euros from 198 euros, upping its forecasts to reflect the better environment for sporting goods over the summer, especially in North America.
“However, we still believe that results will clearly demonstrate the extent to which Adidas is underperforming both larger and smaller peers” says the broker in its note on the German multinational.
“The company will release its next five-year plan in March and until there is clearer evidence that it can re-build brand heat without sacrificing margin, it will continue to trade at a discount to peers”, it said.
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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.
“However, we still believe that results will clearly demonstrate the extent to which Adidas is underperforming both larger and smaller peers” says the broker in its note on the German multinational.
“The company will release its next five-year plan in March and until there is clearer evidence that it can re-build brand heat without sacrificing margin, it will continue to trade at a discount to peers”, it said.
Copyright (c) 2020 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.