Adidas stock falls after Morgan Stanley cuts target despite solid Q2 growth
Published on 09/10/2026 at 14:15 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Adidas stock (ISIN DE000A1EWWW0) was down around 2.5 percent to EUR 142.75 on Xetra in late morning trading on September 10, 2026, extending a recent pullback from levels near EUR 147.85 earlier in the week and reacting to a fresh cut in a major bank’s price target while solid second-quarter growth remains in focus.
Q2 2026 figures show double-digit revenue growth
According to Trading-Treff, Adidas reported that second-quarter 2026 revenue rose by 13.29 percent compared with the prior-year quarter, underlining a solid recovery in demand across key markets.
As Trading-Treff further notes, analyst consensus for the full year 2026 currently points to earnings per share of EUR 9.41, a clear increase versus the prior year’s level, while the expected dividend of EUR 3.61 per share would be higher than the EUR 2.80 paid for the previous year, indicating that investors anticipate both profit growth and rising shareholder returns.
Analyst calls diverge between European and US views
On the positive side, according to finanzen.ch on September 9, 2026, Adidas shares were trading at around EUR 146.45 on Xetra, illustrating how quickly the stock has now retreated by more than EUR 3.50 to roughly EUR 142.75 on September 10, 2026, a decline of about 2.5 percent just during the latest session cited by German portals.
Analyst opinions remain split. According to Trading-Treff on September 9, 2026, RBC Capital Markets reiterated its Outperform rating on Adidas with an unchanged price target of EUR 200 per share, signaling confidence that the company can deliver the expected earnings improvement and that the recent share price weakness may offer potential upside.
In addition, as Stock-World reports, Barclays upgraded Adidas to Overweight in early September 2026 and lifted its price target to EUR 210; at a recent Xetra closing price of EUR 146.35, this implies potential upside of around 43.5 percent if the stock were to reach the new target, a projection Barclays ties to the prospect that Adidas could exceed its operative profit goal of EUR 2.3 billion for 2026.
By contrast, risk signals have become more pronounced. A flash note cited by Futunn News on September 10, 2026 states that Morgan Stanley reduced its target price for Adidas’s European-listed shares from EUR 215 to EUR 190, signaling that the US bank sees less room for valuation expansion than before and underscoring that consensus expectations may be demanding.
US-based views are more cautious in another respect. As Investing.com reports, Morgan Stanley currently rates Adidas Equal-weight in its global sportswear coverage with a price target equivalent to about 10 percent above recent trading levels, arguing that the brand’s superior growth and profitability are already reflected in what it describes as a premium valuation.
Stock slide deepens below the 52-week high
The recent selling pressure has widened the gap to the stock’s previous peak. According to Stock-World, Adidas shares closed at EUR 146.35 on a recent session and stood roughly 27 percent below their 52-week high of EUR 200.90 marked in October of the preceding year, highlighting the extent of the correction despite the company’s recent operational progress.
Stock-World adds that the 30-day performance showed a decline of about 10 percent and that the year-to-date performance was down 13 percent at the time of that report, suggesting that, even before the latest price-target reduction by Morgan Stanley, the market had been reassessing the near-term outlook for the stock. With the relative strength index cited at 32.4, the shares were technically in an oversold zone, an indicator that can sometimes precede a short-term counter-move but does not remove the fundamental risks.
For investors, the mix of double-digit revenue growth in the second quarter, a consensus forecast that earnings per share could rise to EUR 9.41 in 2026 and dividend expectations moving up from EUR 2.80 to EUR 3.61 per share stands against a technical picture of a stock that has dropped more than a quarter from its 52-week high and now faces a lowered target from Morgan Stanley; this tension between operational improvement and valuation concerns is likely to steer trading in the near term.
Xetra price under pressure on September 10, 2026
Per German market data summarized by finanzen.ch on September 10, 2026, Adidas opened that Xetra session at EUR 144.50 and by 09:28 a.m. local time had fallen 2.5 percent to EUR 142.75, with an intraday low recorded at EUR 142.55, underscoring that the market is currently reacting more to cautious analyst signals than to the recently reported fundamental improvements.
In the most recent completed trading day prior to that, internal price overviews show Adidas stock closing at EUR 147.85 on Xetra on September 8, 2026, which means that by September 10, 2026 the shares had lost more than EUR 5 from that close, a drop of over 3 percent within two sessions, even though underlying quarterly revenue grew by 13.29 percent year-on-year and several European banks still see significant upside potential toward targets in the EUR 190 to EUR 210 range.
Adidas stock - key data at a glance
- Company: adidas AG
- ISIN: DE000A1EWWW0
- WKN: A1EWWW
- Ticker: ADS
- Trading venue: Xetra
- Price (as of September 10, 2026, 09:28): 142.75 EUR
- Market capitalization: 26,000,000,000 EUR (as of September 10, 2026)
- Sector / Industry: Consumer Discretionary / Apparel, Footwear and Accessories
- Index membership: DAX 40
