(CercleFinance.com) – adidas signed the largest increase in the DAX index of the Frankfurt Stock Exchange on Monday after a note from RBC in which the analyst praised the commercial dynamics currently benefiting the manufacturer of sporting goods.
RBC, which also says it welcomes the new forecasts established by the group, raised its opinion on the stock to ‘outperform’ versus ‘performance in line with the sector’ so far.
Its price target remains 200 euros.
In a research note, the intermediary believes that adidas has one of the strongest product lines on the market today with the vintage ‘Terrace’ line, something it views favorably given the volatility current demand.
The intermediary adds that by setting a prudent current operating profit (Ebit) target of 500 million euros for 2024, while the consensus was targeting 1.3 billion euros, the group has enabled a readjustment of expectations of the walk.
At 11:15 a.m., the stock rose 2.9%, marking the best performance of the index of German star stocks, which was stable at the same time.
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