Adidas shares rise in Frankfurt. Barclays focuses on ‘Home Innovation’

(Il Sole 24 Ore Radiocor) – Making good progress Adidas on the Frankfurt Stock Exchange. The share price is being buoyed by a report from Barclays which focuses on the “Home of Innovation” event on 23–24 September, when the company will present its innovation strategy and new products to investors and is likely to provide greater clarity on its future prospects. 

Going into more detail, the experts believe that Adidas’s upcoming Innovation Day ‘could bolster investor confidence regarding the innovation pipeline, product cycles and the brand’s momentum. We would not rule out the announcement of quantitative medium-term targets, which would significantly increase visibility’. The experts point out that, at previous Investor Days, no clear correlation emerged between the event and the share price performance. “However, this is the first investor event under the leadership of Bjorn Gulden, a highly respected CEO in the sector who has spearheaded the brand’s recent turnaround. His strategic vision, his assessment of the various product categories and the new product pipeline could have a significant impact on the share price.”

In the report, the brokers highlight that Adidas forecasts revenue growth at constant exchange rates of around 9–10 per cent in 2026/2027/2028; ‘we are slightly above or in line, at 10 per cent/8 per cent/7 per cent respectively’. For 2026, EBIT is expected to be €2.3 billion, “whilst our estimate is higher, at €2.47 billion. For the following years, management forecasts an EBIT margin of around 10% and above 10% in 2027–2028, whilst our estimates are 10.4% and 10.7% respectively”. “We believe that a firm confirmation of the outlook already indicated by the company should be sufficient to support the share price. Any more ambitious targets for 2029 — we estimate an EBIT margin of 11 per cent — could act as a further catalyst.”