adidas: UBS lowers target price
(CercleFinance.com) - UBS believes that improving trends will continue in the third quarter.
The analyst confirms his buy recommendation on the stock, but lowers his price target to E210 (from E218).
"Upcoming Q3 results to provide further evidence of ADS brand turnaround with a slight improvement in underlying momentum, despite softening industry trends", says UBS.
The market is still very volatile, and we still see a lot of uncertainty for the rest of the year. As there is still a lot of stock on the market, retailers are very cautious regarding pre-orders, Adidas 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.
The analyst confirms his buy recommendation on the stock, but lowers his price target to E210 (from E218).
"Upcoming Q3 results to provide further evidence of ADS brand turnaround with a slight improvement in underlying momentum, despite softening industry trends", says UBS.
The market is still very volatile, and we still see a lot of uncertainty for the rest of the year. As there is still a lot of stock on the market, retailers are very cautious regarding pre-orders, Adidas said.
Copyright (c) 2023 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.