Adidas: Stifel maintains buy rating, adjusts TP
(CercleFinance.com) - Stifel reiterates its 'buy' recommendation on Adidas shares, trimming its target price for them from 354 euros to 350 euros, with its new target price suggesting 28% upside potential for the German sports goods supplier's stock.
The broker expects the group to hit the low end of most of its targets for 2021, with cost pressures and declining sales in Asia, although says that it is more cautious about FY 2022.
The main driver for the stock would be an improvement in market conditions in China. Looking ahead, Stifel believes that 2025 targets are credible, as it expects logistics issues to normalise at some point.
The share is currently down ahout 1.5¨%, underperforming the market by about 0.5% in Frankfurt.
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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.
The broker expects the group to hit the low end of most of its targets for 2021, with cost pressures and declining sales in Asia, although says that it is more cautious about FY 2022.
The main driver for the stock would be an improvement in market conditions in China. Looking ahead, Stifel believes that 2025 targets are credible, as it expects logistics issues to normalise at some point.
The share is currently down ahout 1.5¨%, underperforming the market by about 0.5% in Frankfurt.
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.