Barclays initiated coverage of Adidas with an Overweight rating and EUR 218 price target. The firm expects the operating environment to remain challenging in the first half of 2024 as consumers remain cautious and selective in their athleisure spending, but says brands with strong product pipelines should still be able to grow by taking market share.
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- Adidas upgraded to Outperform from Sector Perform at RBC Capital
- Adidas price target lowered to EUR 227 from EUR 230 at JPMorgan
- Adidas price target lowered to EUR 200 from EUR 220 at Deutsche Bank
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- Adidas reports 2023 operaing profit EUR 268M vs. EUR (100M) guidance
