(CercleFinance.com) – Barclays reaffirms its ‘overweight’ recommendation on adidas with a price target raised from 227 to 231 euros, in the wake of an update of its forecasts after a preliminary first quarter publication deemed more solid than foreseen.
‘We believe that the underlying activity (ex-Yeezy) turned out to be vigorous, with margins being the positive surprise,’ says the broker, which also points to an increase in targets for 2024 by the German supplier of sport stuff.
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