- (PLX AI) - Adidas is facing uncertainty around China's recovery and supply chain issues, as well as market share losses, analysts at Bank of America said, downgrading the stock to underperform from neutral.
- • Price target cut to EUR 245 from EUR 340, implying 10% downside
- • Adidas has a greater reliance on China as a growth driver, and headwinds may last longer than expected, BofA said
- • Adidas shares were down 2% in early trading in Frankfurt
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