Adidas price target raised to EUR 245 from EUR 225 at Telsey Advisory

Telsey Advisory analyst Cristina Fernandez raised the firm’s price target on Adidas to EUR 245 from EUR 225 and keeps a Market Perform rating on the shares. The company is is making progress reviving the brand with sequential improvement across all areas of the business, the analyst tells investors in a research note. The firm says that while the Yeezy drop in Q1 helped, the bigger story is the underlying improvement in the core brand, which is driven by higher demand for Adidas Original products.