Adidas stock falls as Bank of America cuts price target

Adidas AG (ISIN DE000A1EWWW0) stock came under pressure on September 17, 2026, with Xetra trading around EUR 144 after a fresh cut to the price target by Bank of America from EUR 184 to EUR 156 alongside a reiterated Neutral rating, adding a clear signal for investors.

Analyst actions set the tone

According to MarketScreener on September 17, 2026, Bank of America reduced its 12-month price target for Adidas from EUR 184 to EUR 156, a cut of EUR 28 or about 15.2%, while keeping the stock at Neutral.

The same overview notes that Citigroup lowered its Adidas price target more moderately from EUR 204 to EUR 200 but continues to recommend the shares with a Buy rating, underscoring a divergence in analyst conviction on the upside potential.MarketScreener

Stock drifts lower around EUR 144

As finanzen.ch reported on September 17, 2026, Adidas shares traded at EUR 144.25 on Xetra at 09:28 a.m. local time, down 0.3% from the opening level of EUR 144.55, with the intraday low matching EUR 144.25 in early dealings.

A later intraday update from finanzen.ch shows the stock at EUR 143.90 at 12:28 p.m. on Xetra, representing a 0.5% decline on the day and an intraday range between EUR 143.40 and EUR 144.55.

On the previous trading day, September 16, 2026, Adidas stock had closed at EUR 144.65 on Xetra, implying that the midday quote of EUR 143.90 on September 17, 2026 put the shares about EUR 0.75, or roughly 0.5%, below that prior close while still above the intraday low.Adidas stock heads into the open after a 1.9% Xetra gain

Valuation and earnings expectations

Per an analyst overview cited by finanzen.ch on September 17, 2026, the consensus forecast for Adidas earnings per share in fiscal year 2026 stands at EUR 9.38, a key benchmark for assessing whether the reduced price targets still imply meaningful upside.

With the Bank of America target now at EUR 156, that figure corresponds to about 16 times the 2026 EPS consensus of EUR 9.38, whereas the trimmed Citigroup target of EUR 200 equates to around 21 times the same earnings estimate, indicating a notably higher implied valuation multiple.

According to Yahoo Finance, analysts expect Adidas to generate EUR 7.24 billion in revenue in the current quarter ending September 2026, compared with EUR 6.63 billion in the year-ago quarter, implying estimated year-on-year sales growth of about 9.2%.

The same data set indicates a projected EUR 27.23 billion in revenue for the full fiscal year 2026 versus EUR 24.81 billion in fiscal year 2025, marking anticipated growth of roughly 9.7% and suggesting that the stock cuts from Bank of America and Citigroup come against a backdrop of still solid top-line expansion.Yahoo Finance

RBC and other houses remain more positive

As finanzen.ch highlights in its September 17, 2026 coverage, RBC Capital Markets continues to rate Adidas stock as Outperform, reinforcing that not all analyst houses share Bank of America’s more cautious stance.

A separate analyst list reproduced by finanzen.ch shows recent Overweight ratings from Barclays and JP Morgan in late August and early September 2026, indicating that several major banks still see structural upside in the shares despite the latest target cuts.

For investors, this mix of ratings means the current EUR 143.90 Xetra level on September 17, 2026 sits about 8% below Bank of America’s new EUR 156 target and roughly 28% below Citigroup’s EUR 200 target, while also reflecting a negative one-year share performance compared with the EUR 178.80 close recorded a year earlier.finanzen.ch

Operational backdrop and regional risks

Beyond ratings, the operational context also matters. A sector report from Shenwan Hongyuan dated September 17, 2026 notes that in the latest fiscal quarter revenue at Adidas grew 13.3% year over year, placing the company among the stronger performers in the international sportswear peer group.

The same analysis points out that Adidas achieved its highest-ever quarterly revenue for that period, helped by major football events, yet also highlights that net profit for several brands, including Adidas, still faces pressure, with year-on-year changes in net income reflecting ongoing margin challenges.Shenwan Hongyuan

In parallel, Investing.com reports on September 17, 2026 that Adidas is cutting jobs in its India technology team, a move that illustrates how the group is fine-tuning its cost base and regional structures, which may also factor into analyst assessments of execution risk and future profitability.

Stock level and investor view

Adidas stock traded around EUR 143.90 on Xetra as of September 17, 2026, 12:28 p.m., down 0.5% on the day and well below the EUR 178.80 level seen one year earlier, while sitting still above recent intraday lows; at this price, the company remains a major constituent of the DAX 40 index and a core name in the global sportswear sector.

More news and analyses on Adidas stock