Wedbush raised the firm’s price target on Adidas to EUR 200 from EUR 193 and keeps a Neutral rating on the shares. Momentum appears to be building up at Adidas, following a strong Q1 preannouncement and guidance raise on both the top and bottom lines, the firm says. Wedbush believes that brand heat is accelerating, and they should benefit as channel inventory improves. That said, a lot of the good news is already factored into the stock, the firm adds.
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