(CercleFinance.com) – Royal Bank of Canada renewed its ‘outperformance’ opinion on adidas on Monday, with a target price of 190 euros, following the surprise announcement of the forthcoming departure of its managing director Kasper Rorsted, scheduled for the coming year.
In a reaction note, the broker evokes an “unexpected” decision knowing that the mandate of the leader had been extended, last year, until 2026.
RBC says it still expects a favorable reaction from the market in view of the difficulties that have surrounded the group’s activity for several years.
Indeed, he recalls that the growth of the turnover of adidas has proved to be much lower than that of its rivals Puma or Nike in recent years.
According to RBC, the man for the job, to succeed Kasper Rorsted, would therefore have good experience in both product design, marketing and sales, whether in sports equipment or relatively related trades. .
‘Such an approach would allow the company to make up for the delays it shows in areas such as fashion shoes (‘lifestyle’) and to better market products that work well,’ he concludes.
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