UBS cuts target for Adidas stock to EUR 160

Published on 10/06/2026 at 13:51 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue grew 14.00 percent in the first half of 2026. Adidas stock costs EUR 145.30, plus 1.82 percent versus EUR 142.70, on October 6, 2026.

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Adidas (ISIN DE000A1EWWW0) was trading at EUR 145.30 at Lang & Schwarz on October 6, 2026 at 1:43 p.m. CEST, plus 1.82 percent versus the EUR 142.70 prior close. On October 5, 2026, UBS cut its Adidas price target from EUR 173.00 to EUR 160.00 and kept its rating at Neutral, according to FinanzNachrichten.

UBS sees rising 2027 headwinds

UBS analyst Robert Krankowski linked the target reduction to stronger expected industry headwinds in 2027 and lowered his earnings estimates. The bank still expects the sportswear maker to outperform the industry, while its Neutral rating places the new target 10.12 percent above the Lang & Schwarz price.

Revenue growth outpaces profit

Adidas generated EUR 13.335 billion in revenue during the first half of 2026, up 14.00 percent on a currency-neutral basis, while operating profit rose 11.00 percent to EUR 1.279 billion, according to Admirals in its October 2, 2026 earnings preview. The comparison matters because sales growth exceeded profit growth, leaving margins and cost control as the central questions for the next report.

The second quarter contributed EUR 6.743 billion in revenue and EUR 574 million in operating profit. The reported figures show that Adidas is expanding sales faster than earnings, a pattern that gives the upcoming margin update greater importance than revenue alone.

October 29 brings the next test

Adidas is scheduled to publish its third-quarter 2026 results on October 29, 2026, according to Admirals. The company had maintained its 2026 currency-neutral sales outlook at growth of 9.00 percent to 10.00 percent, so the release will show whether the second-half pace is consistent with that range.

For investors, the key contrast is already visible: first-half revenue growth reached 14.00 percent, while operating profit growth was 11.00 percent. The UBS target cut adds a valuation counterweight, but the Neutral rating and the 2027 headwind warning leave the October figures as the next concrete test.

Adidas stock trades above prior close

Adidas stock was trading at EUR 145.30 at Lang & Schwarz on October 6, 2026 at 1:43 p.m. CEST, compared with the EUR 142.70 prior close and a plus 1.82 percent daily change. The 52-week range was EUR 129.95 to EUR 196.40, while market capitalization stood at EUR 25.4 billion as of October 6, 2026. The further course of trading is shown by the continuously updated real-time quote of Adidas stock.