Adidas Stock Edges Up Despite JPMorgan Target Cut to EUR 210

Adidas' stock price rose slightly on October 2, 2026, after JPMorgan cut its target price from EUR 230 to EUR 210 while maintaining an Overweight rating. The bank's analyst, Wendy Liu, reduced earnings forecasts for Adidas through 2028 by up to 10 percent due to a more cautious industry view.

Liu cited Adidas' broad product pipeline and positive retail signals as reasons to remain optimistic about the company's prospects. However, sales growth is meeting cost pressure, with marketing and point-of-sale expenses reaching EUR 924 million in the second quarter of 2026.

The company reported revenue of EUR 6.743 billion for the second quarter of 2026, up from EUR 5.952 billion in the same period last year. Operating profit reached EUR 574 million versus EUR 546 million. Currency-neutral first-half revenue rose 14 percent to EUR 13.3 billion, while first-half operating profit increased 11 percent to EUR 1.279 billion.

The next earnings date for Adidas is scheduled for October 29, 2026, which will provide investors with a fresh read on inventory, marketing costs, and the 2026 operating-profit outlook. The company's market capitalization stands at EUR 25.2 billion.