FRANKFURT (dpa-AFX Broker) - DZ Bank has lowered its fair value for Adidas from 240 to 206 euros while maintaining its "Buy" rating. The contract extension for CEO Björn Gulden should provide a sense of relief, analyst Thomas Maul wrote in a study published on Friday. Gulden is regarded by the capital market as an integral part of the Adidas success story. Furthermore, by releasing encouraging medium-term targets, Adidas has made a valuable contribution to increasing visibility and dispelling growth concerns. However, the DZ Bank expert noted that he has reduced his earnings expectations, partly due to exchange rate and tariff effects./rob/mis/jha/

Publication of the original study: 06.03.2026 / 15:21 / Time zone not specified in study

First distribution of the original study: 06.03.2026 / 15:28 / Time zone not specified in study

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