In the first half of the year, sales at Adidas fell by 27 percent to 8.332 billion euros. Many stores had to close temporarily due to the pandemic. 93 percent of all shops are now open again. That should have a positive effect on the figures in the second half of the year.
At the height of the crisis, the Adidas share was quoted at around 162 euros. The paper has clearly recovered from this. Prices of more than 280 euros per share are currently being paid again.
Therefore, the DZ Bank analysts are downgrading the Adidas share. As before, they see the price target at EUR 265.00. The holding recommendation is no longer tenable at the current rates. Accordingly, the new rating for the sporting goods manufacturer’s shares is “sell”.
The analysts seem to have clearly priced in the good development and the effects for 2021 in the current price.
They expect earnings per share of 2.27 euros in the current year. In 2021 it should be 7.92 euros.
Adidas shares gain 1.7 percent today to 283.80 euros.