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Investing.com - Bernstein has reiterated an Outperform rating and EUR265.00 price target on Adidas AG (ETR:ADS) (OTC:ADDYY) as the sportswear giant continues to show strong brand momentum.
The company reported broad-based growth across product categories, with Lifestyle growing 10% at constant currency excluding Yeezy products, driven by healthy performance in Terrace and Lifestyle Running/Football franchises.
Performance categories grew 17%, led by double-digit growth in Running, particularly from the Adizero and Supernova franchises, and Football, which benefited from new season on-pitch kits and updated F50 and Predator footwear franchises.
Footwear grew 4% overall, but showed 11% underlying growth excluding Yeezy products, while Apparel posted a robust 16% growth, contributing to the company’s decision to raise its full-year guidance.
Bernstein identified the fiscal year 2026 guidance as the next major catalyst for Adidas, which is expected to benefit from major sporting events including the Winter Olympics, the Football World Cup, and other significant athletic competitions.
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