(updates: share price and Puma added)
FRANKFURT (dpa-AFX) - Adidas shares benefited on Friday from a positive outlook on the upcoming reporting season issued by Citigroup. In early trading, the Herzogenaurach-based company's stock climbed 1.5 percent to 139.10 euros, making it one of the top performers on the DAX in an otherwise quiet market. Technical resistance is currently looming at the 140 euro mark.
While there was some confusion on Friday regarding analyst Monique Pollard's new price target, her stance remains clear: she maintains a "Buy" rating and sees immense recovery potential. Year-to-date, Adidas shares are still down approximately 18 percent.
Pollard identifies strong global growth opportunities, particularly in the running shoe segment. Additionally, she views the upcoming FIFA World Cup as a powerful revenue driver.
In the MDAX, Puma shares surged 3.7 percent to 25.22 euros, reaching their highest level since late January. This brings their year-to-date gain to 13 percent. Following the sell-off that began in 2021, the stock has been undergoing a protracted bottoming process for the past year.
Regarding Puma, Monique Pollard raised her price target to 25 euros but remained on the sidelines with a "Neutral" rating. Unlike Adidas, she expects first-quarter revenues to have declined across all regions./ag/bek/jha/
