Adidas price target lowered to EUR 235 from EUR 270 at Telsey Advisory

Telsey Advisory analyst Cristina Fernandez lowered the firm’s price target on Adidas (ADDYY) to EUR 235 from EUR 270 and keeps an Outperform rating on the shares. The firm believes the company is well positioned given its brand momentum as well as its lower exposure to the U.S. and operational execution, the analyst tells investors.