Bernstein maintains Adidas's “outperforming the market” rating. The target price for German listed shares is 245 euros, and the target price for US OTC shares is 132.5 US dollars. After participating in Adidas Innovation, the agency said that the company's decentralized operation model is working, enabling regions to adjust design, supply and replenishment more quickly according to local needs. Over the past two years, Adidas has continued to increase its market share in all major regions. Bernstein also pointed out that the company's current product portfolio is well-balanced between professional sports and lifestyle, covering different uses, price ranges and styles. Management continues to expect high single-digit revenue growth in 2027, mainly supported by strong product pipelines, low market share in North America and China, and wider product coverage. However, Bernstein believes that the first half of 2027 will still face risks such as a high base, weakening demand, and increased promotion in the sportswear industry.
智通财经·10/01/2026 06:41:18
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Bernstein maintains Adidas's “outperforming the market” rating. The target price for German listed shares is 245 euros, and the target price for US OTC shares is 132.5 US dollars. After participating in Adidas Innovation, the agency said that the company's decentralized operation model is working, enabling regions to adjust design, supply and replenishment more quickly according to local needs. Over the past two years, Adidas has continued to increase its market share in all major regions. Bernstein also pointed out that the company's current product portfolio is well-balanced between professional sports and lifestyle, covering different uses, price ranges and styles. Management continues to expect high single-digit revenue growth in 2027, mainly supported by strong product pipelines, low market share in North America and China, and wider product coverage. However, Bernstein believes that the first half of 2027 will still face risks such as a high base, weakening demand, and increased promotion in the sportswear industry.