Adidas stock absorbs JPMorgan target cut to EUR 210

Published on 10/03/2026 at 22:42 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Adidas stock closed at EUR 144.05 on October 2, 2026, while JPMorgan cut its target to EUR 210. Second-quarter revenue reached EUR 6.743 billion.

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Adidas stock (ISIN DE000A1EWWW0) closed at EUR 144.05 on Xetra on October 2, 2026, up 0.98 percent from EUR 142.65. The immediate catalyst was JPMorgan's decision to cut its price target from EUR 230 to EUR 210 while retaining an Overweight rating.

JPMorgan lowers its target

According to dpa-AFX on October 2, 2026, JPMorgan analyst Wendy Liu reduced earnings forecasts through 2028 by up to 10 percent because of a more cautious industry view. The bank nevertheless cited Adidas' broad product pipeline, positive retail signals and largely favorable channel checks.

The new target remains EUR 65.95, or 45.8 percent, above the Xetra price. That gap shows why the rating stayed Overweight even as the earnings assumptions became more conservative.

Sales growth meets cost pressure

Adidas reported second-quarter 2026 revenue of EUR 6.743 billion, up from EUR 5.952 billion in the year-earlier quarter, while operating profit reached EUR 574 million versus EUR 546 million. Admirals reported that currency-neutral first-half revenue rose 14 percent to EUR 13.3 billion and first-half operating profit increased 11 percent to EUR 1.279 billion.

The comparison is important for the stock: sales are expanding faster than profit, while second-quarter marketing and point-of-sale expenses reached EUR 924 million. Inventory stood at EUR 5.969 billion on June 30, 2026, 13 percent above the year-earlier level.

Q3 date and market levels

The adidas investor-relations page lists the second-quarter release on July 30, 2026, and the next quarterly test is scheduled for October 29, 2026. That report will give investors a fresh read on inventory, marketing costs and the 2026 operating-profit outlook.

Adidas shares traded between EUR 138.35 and EUR 145.45 on October 2, 2026. The 52-week range was EUR 129.95 to EUR 196.40, and volume reached 578,531 shares, placing the latest price 26.6 percent below the yearly high.

Adidas stock stays below its yearly high

At EUR 144.05 on Xetra on October 2, 2026, Adidas had a market capitalization of EUR 25.2 billion. The combination of double-digit sales growth, higher inventory and a lower JPMorgan target leaves the October 29 report as the next quantified checkpoint for the shares.