Adidas price target raised to EUR 165 from EUR 160 at RBC Capital

RBC Capital raised the firm’s price target on Adidas to EUR 165 from EUR 160 and keeps a Sector Perform rating on the shares. The company is executing well, with encouraging momentum in Terrace, based the firm’s channel checks, the analyst tells investors in a research note. Q3 should see further progress on inventory clean-up particularly EMEA and China, with flattish organic growth despite “disciplined wholesale sell-in”, RBC added.