UBS has reiterated its buy recommendation for adidas, with a price target of €280, after a recent meeting with the company's management.
The discussions highlighted adidas's expectations for a significant increase in its North American operations in the fourth quarter and beyond. Furthermore, adidas has revised its operating profit forecast for 2024 to €1.2 billion, up from a previous estimate of approximately €1 billion. This positive outlook reflects the company's confidence in its growth trajectory and market performance.