Since Adidas released its H1 17 numbers in late July, the shares have lost some 15% and our opinion turned from REDUCE to ADD earlier this month. During the same period, stock markets recovered by up to 10%.
The fundamental picture has not changed since then, but it was our impression that the shares were heavily overvalued three months ago. This has been more than corrected as of late.
Whether management’s latest decision to continue supporting Russian sports by sponsoring both athletes for t ....
13 Dec 2017
Share price is under strong pressure
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Share price is under strong pressure
adidas AG (ADS:WBO) | 0 0 1.8% | Mkt Cap: 37,743m
- Published:
13 Dec 2017 -
Author:
Hans-Peter Wodniok -
Pages:
2
Since Adidas released its H1 17 numbers in late July, the shares have lost some 15% and our opinion turned from REDUCE to ADD earlier this month. During the same period, stock markets recovered by up to 10%.
The fundamental picture has not changed since then, but it was our impression that the shares were heavily overvalued three months ago. This has been more than corrected as of late.
Whether management’s latest decision to continue supporting Russian sports by sponsoring both athletes for t ....