UBS has reaffirmed its "Buy" rating for Adidas, with a target price of 280 euros.
In a study published on December 10, 2024, Zuzanna Pusz, an analyst at the bank, mentioned that the recent tax and customs searches conducted at various Adidas locations were not entirely unexpected. Pusz referred to a risk provision mentioned in Adidas' 2022 annual report, indicating that the company had anticipated potential regulatory scrutiny.
The ongoing developments highlight the challenges faced by Adidas in light of increasing oversight. Investors will closely monitor the impact of these investigations on Adidas' operations and financial performance in the coming months.