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[BUSINESS] · Germany, Canada, China, United Kingdom, India · 5 sources

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Adidas receives 'Outperform' rating from RBC Capital Markets

RBC Capital Markets has maintained an 'Outperform' rating for Adidas, setting a price target of 200 euros. In a sector analysis covering European luxury goods and sportswear manufacturers, analyst Piral Dadhania noted that while demand from China remains mediocre, Adidas is benefiting from positive fashion trends and its local business operations.

The report contrasts Adidas with its competitor Nike, stating that Nike is in the early stages of a transformation process and still faces challenges regarding inventory, products, and its business model.

In the broader retail and luxury sectors, the analysis suggests that the British retailer Next should benefit from the recent UK-India trade agreement. Additionally, the luxury market is seeing strength in 'hard' goods such as jewelry and high-end watches, which favors Richemont.

Entities

Adidas · Nike · Piral Dadhania · RBC Capital Markets · Richemont

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