NEW YORK (dpa-AFX Broker) - U.S. bank JPMorgan upgraded Adidas from "Neutral" to "Overweight" and raised its price target from 100 to 162 euros. Analyst Olivia Townsend also gave the shares "Positive Catalyst Watch" status in an industry report available Tuesday ahead of the annual results on March 8. Alluding to new Adidas CEO Björn Gulden, she calls the stock a "Gulden Opportunity." The latest, third profit warning has recalibrated market expectations to such an extent that there is now even potential for 2024 forecasts, the expert says. Her own estimates for operating earnings (Ebit) are 16 percent higher than the new market consensus. Townsend also trusts the group to return to double-digit Ebit margins in the long term./ag/zb

Publication of the original study: 27.02.2023 / 18:18 / GMT

First disclosure of the original study: 28.02.2023 / 00:15 / GMT

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