ZURICH (dpa-AFX Broker) - The major Swiss bank UBS has raised its price target for Adidas from 203 to 228 euros after detailed annual figures and left its rating at "Buy". The above-average performance in footwear, the strong growth in stores without discounts, the good reduction of inventories and the Management Board's reference to a positive first quarter confirm the increasing operating momentum at the sporting goods group, analyst Zuzanna Pusz wrote in a study published on Thursday. She explained the new price target with, among other things, the management's confidence in achieving double-digit profitability (EBIT margin) by 2026. It also shifted its valuation horizon./edh/tav

Publication of the original study: 13.03.2024 / 23:12 / GMT

First distribution of the original study: 13.03.2024 / 23:12 / GMT

-----------------------

dpa-AFX Broker - the Trader News from dpa-AFX

-----------------------