Brand ResurgenceThe broader resurgence of Adidas's brand suggests an underpinning of support and pricing power for the brand to weather multiple scenarios.
Market Share PotentialProgress in running, apparel, and football categories, especially with the upcoming 2026 World Cup, indicates strong potential for market share gains.
Valuation OpportunityThe recent extreme contraction in valuation multiples presents an opportunity to reconsider the stock, with expectations for a justified increase in future earnings multiples.