Adidas Could Maintain Sales Momentum Amid Lower Nike Competition -- Market Talk

Dow Jones10-16

0529 GMT - Adidas could maintain its sales momentum into next year, since a lack of strategy and near-term product initiatives at Nike mean its U.S. rival offers less competition, RBC Capital Markets analysts Piral Dadhania and Nikolaos Lafioniatis say in a research note. The German sportswear company raised its 2024 guidance, citing better-than-expected results and brand strength, a move that was largely anticipated, and circumstances look favorable heading into next year, RBC says. "We expect adidas to maintain double digit growth rates in 2025, noting lower Nike competition, strong brand momentum and proliferation of growth across categories including performance and running," RBC says. RBC lifts its price target on Adidas to 265 euros from 260 euros. (adria.calatayud@wsj.com)

(END) Dow Jones Newswires

October 16, 2024 01:29 ET (05:29 GMT)

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The German sportswear company raised its 2024 guidance, citing better-than-expected results and brand strength, a move that was largely anticipated, and circumstances look favorable heading into next year, RBC says. \"We expect adidas to maintain double digit growth rates in 2025, noting lower Nike competition, strong brand momentum and proliferation of growth across categories including performance and running,\" RBC says. RBC lifts its price target on Adidas to 265 euros from 260 euros. 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