(News Bulletin 247) – Berenberg announced on Tuesday that it had raised its target price on adidas from 180 to 220 euros, showing itself to be optimistic about the takeover of the sports equipment supplier and judging it appropriate to invest in value.
The German bank, which had raised its recommendation to buy the title last February, points out that the stock market has appreciated by some 30% since its increase.
According to the German establishment, the value still has additional room for improvement knowing that the group has just begun its recovery, with a dynamic that continues to improve, particularly in terms of profit margins.
Its price target established at 220 euros thus shows an upside potential of 25%, but Berenberg estimates that this could reach up to 70% in the context of an ideal scenario (‘blue-sky scenario’).
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