HSBC announced on Wednesday that it had raised its price target for adidas from €215 to €240, while renewing its Buy recommendation on the stock.

According to the British bank, the sports equipment manufacturer could well revise its targets upwards several times this year, thanks to the market shares it is currently winning at the expense of Nike.

From its point of view, the management team has communicated an unambitious outlook to the market, with the intention of significantly exceeding these forecasts.

HSBC also believes that the forthcoming investor day could attract more long-term investors, willing to commit to a turnaround that is likely to last for the next three years.

In this context, the financial institution shows its preference for the German group, believing that the rest of the sector (Nike, Puma, lululemon, etc.) currently finds little favor in its eyes.

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