Adidas: UBS upgrades stock
(CercleFinance.com) - UBS has upgraded its rating on the Adidas share from "neutral" to "buy," having increased its corresponding target price from 268 euros to 338 euros, which suggests upside potential of 19% for the German sports goods supplier.
"Cleaner inventory in the channel after a painful 2020, new product launches and roadmap to margin expension at March CMD provide upside risk," the broker summarised.
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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.
"Cleaner inventory in the channel after a painful 2020, new product launches and roadmap to margin expension at March CMD provide upside risk," the broker summarised.
Copyright (c) 2021 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.