#5 - adidas (OTCMKTS:ADDYY)
There are several consumer discretionary stocks in the sportswear category. And adidas AG (OTCMKTS: ADDYY) is one that looks ready for a turnaround. ADDYY stock is down about 40% from its all-time high in 2021. The company had a public split with Kanye West’s Yeezy, which discontinued production in 2022.
But the German-based company’s revenue is showing strong year-over-year gains, particularly in China. The adidas brand has posted gains of 14% and the company’s gross margin is a healthy 51%. And while footwear sales led the charge, adidas is also seeing growth in its lifestyle and performance businesses. And, excluding Yeezy business, e-commerce sales were up an impressive 25%.
This is causing analysts to raise their price targets for the stock. As of this writing, 14 out of 28 analysts gave the stocks a Buy or Strong Buy rating with a consensus price target of $139.79, which is approximately 17% upside.
About adidas
adidas AG, together with its subsidiaries, designs, develops, produces, and markets athletic and sports lifestyle products in Europe, the Middle East, Africa, North America, Greater China, the Asia-Pacific, and Latin America. It offers footwear, apparel, and accessories and gear, such as bags and balls under the adidas brand; golf footwear and apparel under the adidas Golf brand; and outdoor footwear under the Five Ten brand.
Read More - Current Price
- $114.25
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 4 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
