adidas: UBS confirms buy rating
(CercleFinance.com) - UBS confirms its Buy recommendation on the share with a price target of 210 E following the announcement of Q3 2023 results.
It says that " ADS has just pre-released its Q3 results with sales of EUR5,999m +2% above cons of EUR5,855m (broadly in line with UBSe EUR6,007m), +1% FX-neutral vs. cons -2% (UBSe flat)".
"Q3 EBIT was EUR409m (cons EUR218m, UBSe EUR324m), with an EBIT margin at 6.8%," the analyst points out.
The Group has said that underlying operating profit - excluding exceptional items relating to Yeezy and the ongoing strategic review - should now reach around E100m in 2023 (vs. previously around break-even).
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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.
It says that " ADS has just pre-released its Q3 results with sales of EUR5,999m +2% above cons of EUR5,855m (broadly in line with UBSe EUR6,007m), +1% FX-neutral vs. cons -2% (UBSe flat)".
"Q3 EBIT was EUR409m (cons EUR218m, UBSe EUR324m), with an EBIT margin at 6.8%," the analyst points out.
The Group has said that underlying operating profit - excluding exceptional items relating to Yeezy and the ongoing strategic review - should now reach around E100m in 2023 (vs. previously around break-even).
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.