Adidas upgraded to Buy from Neutral at UBS

UBS analyst Zuzanna Pusz upgraded Adidas to Buy from Neutral with a price target of EUR 216, up from EUR 148.40. While stating that the Adidas turnaround continues to polarize the market, with sceptics thinking it will take more time for the company to end its market share losses, the firm believes the brand is entering a period of improving momentum and that its new strategy is likely to further accelerate sales growth from 2024 and beyond.