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Adidas receives buy recommendation from Morgan Stanley
A new analysis from Morgan Stanley praises Adidas' sales momentum and raises its price target. Find out more about the developments and potential of the sporting goods manufacturer.
Adidas receives buy recommendation from Morgan Stanley
A new analysis of Adidas' sales channels has piqued the interest of US bank Morgan Stanley. According to analyst Edouard Aubin, the sporting goods manufacturer's increasing sales momentum reflects a promising development. This led to the price target being raised from 175 to 235 euros in the most recent study. Aubin spoke positively about CEO Björn Gulden's influence on the improved mood and business development at Adidas, particularly in the lifestyle sector.
Adidas shares rose by 3.6 percent to 203.50 euros on the day the study was published. Despite this increase, Aubin still sees a potential of over 15 percent up to the new price target. According to Aubin, the ongoing development of the “Terrace Sneaker” trend in the lifestyle segment and the introduction of new products such as the SL72 model contribute to the company’s success.
Positive developments are particularly evident in the basketball and football sectors, with the recently introduced Anthony Edwards signature shoe in the basketball sector, for example, receiving praise. There are also early signs of success for Adidas in the highly competitive running category with the Supernova and Adizero models. Morgan Stanley is therefore raising its sales forecasts for the years 2024 to 2026 and predicting an above-average total return for the stock compared to other industry stocks.
The US bank emphasizes that Adidas should also benefit from a lower product innovation rate at its competitor Nike and a more rational pricing strategy. Morgan Stanley's analysis therefore shows a positive picture of Adidas' sales dynamics and underlines the company's potential for future growth.