Adidas: HSBC renews buy recommendation, raises target

(CercleFinance.com) - HSBC announced on Wednesday that it had raised its target price for adidas shares from E215 to E240, while renewing its Buy recommendation on the stock.


According to the British bank, the sports equipment manufacturer could well raise its targets several times this year, thanks to the market share that it is currently winning at the expense of Nike.

HSBC believes that Adidas' management team has communicated an unambitious outlook to the market, while intending to significantly exceeding these forecasts.

HSBC also believes that the forthcoming investor day could attract more long-term investors, willing to commit to a turnaround that is likely to last for the next three years.

In this context, the broker prefers the German group, believing that the rest of the sector (Nike, Puma, lululemon, etc.) is lagging behind.


Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.