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Fly News Breaks for February 25, 2019
ADDYY
Feb 25, 2019 | 08:33 EDT
Wells Fargo analyst Tom Nikic upgraded Adidas to Outperform from Market Perform as his math suggests a greater-than-expected contribution from the long-awaited democratization of the Yeezy sub-brand. The company seems to have hit a ''lull'' on new product launches for the core brand and faces headwinds from the 2018 World Cup through Q2 of 2019, but Nikic believes these challenges are well understood by investors, and the ''opening the faucet'' on the Yeezy brand can get Adidas through these 2019 challenges and allow for a ''soft landing'' on the top line in 2019. The analyst also raised his price target on the shares to EUR240 from EUR205.
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