Adidas Reaffirmed at Outperform as RBC Highlights Product Pipeline, Consistent Strategic Execution

08:33 AM EDT, 09/25/2026 (MT Newswires) -- RBC Capital Markets reiterated its outperform rating on adidas (ADS.F), noting the German sportswear company's upcoming innovation-led pipeline of products across key categories and consistent strategic execution. "We believe adidas are executing well in a mixed sporting and consumer environment, taking share and executing with clarity, with its decentralised business model a key underpin. The Autumn/Winter '27 product pipeline should deliver further innovation in key Performance categories (Running, Football, Training, etc) and drive a Lifestyle Footwear trend change towards 'Court' styles (specifically Stan Smith). The business is being run with a mid-term mindset, which we applaud," the research firm said following adidas' recent Innovation Day event in Germany. "We view the stock setup into 2H26E will see revenue growth moderation following strong 1H, and should create the foundation for another growth year in 2027." Analysts added that the company's current business model is delivering "healthy" revenue and market share gains while allowing it to maintain full price discipline. RBC also highlighted adidas' reaffirmed midterm financial targets, brand momentum and "attractive" EPS growth outlook. The stock's price target stands at 200 euros.