0919 GMT - Adidas should see an improvement in topline from the second half onward, on the back of a well-received product pipeline, Morgan Stanley analysts write in a research note. The German athletic apparel and footwear company has been working to clear excess of inventory, especially in North America. "We expect this improved product pipeline to also be supported by improved marketing launches, and an increasingly favorable and healthy sporting goods backdrop as inventories normalize across the industry," the analysts say. Adidas could also benefit from the current lull in Nike's product innovation, they say. Morgan Stanley upgrades Adidas to overweight from underweight. Shares are up 4.2% at EUR204.60. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
April 15, 2024 05:19 ET (09:19 GMT)
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