adidas: Stifel maintains buy rating, reduces target price
(CercleFinance.com) - Stifel has reiterated its "buy" rating on adidas shares, as it has fallen to such an extent that it now has 43% upside potential relative to its new price target of 260, even though this has been reduced from 305 euros previously.
"Positive developments in Europe, North America and LatAm are overshadowed by persistent discussions on guidance and potential need to cut it further," the German broker notes.
Considering that "uncertainty prevails" and that "new guidance does not clear the air", Stifel says it has "adopted a more cautious stance on all key metrics" for the sporting goods supplier.
The share is currently down almost 3% at about 176 euros.
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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.
"Positive developments in Europe, North America and LatAm are overshadowed by persistent discussions on guidance and potential need to cut it further," the German broker notes.
Considering that "uncertainty prevails" and that "new guidance does not clear the air", Stifel says it has "adopted a more cautious stance on all key metrics" for the sporting goods supplier.
The share is currently down almost 3% at about 176 euros.
Copyright (c) 2022 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.