The Week

Adidas (ADDYY.US) fell 4.77% this week to $82.42, trailing the S&P 500 by roughly 3.97 percentage points. The four trading days moved in two stages: Tuesday opened at $86.13 and closed at $85.36, Wednesday eased to $85.15, Thursday gapped down to the $81.20 area and touched the weekly low of $81.035, and Friday held above $82 to close at $82.42. Weekly amplitude came to 6.1%, with the close below the 20-day average of $87.608 and still well under the 60-day average of $95.916.

Key Events

Three themes shaped the week. First, Bernstein on 8 September and Morgan Stanley on 10 September both reiterated buy ratings on adidas AG. Second, managing board member Bjørn Gulden bought EUR 503,935.25 worth of stock on 10 September, and member Birgit Kretschmer bought EUR 101,071.25 on 11 September. Third, UBS published a note on China’s sportswear market arguing the winner is not Nike. None of these directly explains the price pullback, but the back-to-back insider purchases and the two buy ratings formed a supportive news flow during a down week.

Analyst Ratings

Five covering firms currently split as follows: one buy, two overweight, two hold, and none at underweight or sell. The consensus rating is buy, with a consensus target of $114.9, about 39.41% above the previous close of $82.42. Targets range from $106 to $132.5—dispersion is mostly at the upper end, yet all sit above the spot price. Within the apparel, accessories and luxury goods industry, Adidas ranks 18th out of 35 companies.

The Week Ahead

US macro data is dense next week: the Empire State manufacturing index lands on 15 September (prior 20.6, forecast 14.75), and retail sales arrive on 16 September, including retail sales ex-autos (prior -0.3, forecast 0.6) and headline retail sales (prior -0.6, forecast 0.9). Farther out, Adidas reports first three quarters of fiscal 2026 on 29 October before the open, with revenue estimated around $8.23 billion—worth keeping on the radar even if it sits beyond next week.

In Short

The week’s tension sits between a still-buy consensus with a target nearly 40% above spot, continued insider buying, and a price that broke below its 20-day average to close near the lower end of the past two months. Valuation shows a P/E of 17.91 and P/B of 4.21—mid-to-upper within its range. What comes next hinges on how the retail data feeds consumer sentiment, and on whether the late-October results validate or cut against the insider purchases and broker targets.

This article is generated by LongbridgeAI from market data, for information only and not investment advice.