Adidas stock gains as RBC keeps a EUR 200 target

Adidas stock traded at EUR 144.90 on Xetra on September 22, 2026, up 1.2 percent during the session. The immediate catalyst was finanzen.ch reporting that RBC Capital Markets retained an Outperform rating and a EUR 200 price target on the same date.

RBC keeps the EUR 200 target

RBC's target implies 37.17 percent upside from the EUR 145.80 reference price shown in the September 22, 2026 analyst update. The recommendation therefore leaves the valuation debate centered on whether Adidas can convert double-digit sales growth into a stronger earnings trajectory.

The latest market snapshot also shows a wide trading range. Adidas reached EUR 145.10 during the Xetra session, while the 52-week high stands at EUR 196.40 from October 22, 2025, and the 52-week low at EUR 129.95 from March 23, 2026.

Revenue rose 13.29 percent

Adidas reported second-quarter 2026 revenue of EUR 6.74 billion for the quarter ended June 30, 2026, according to finanzen.ch. That was 13.29 percent above the EUR 5.95 billion recorded in the year-earlier quarter, although earnings per share declined to EUR 2.02 from EUR 2.07.

The comparison gives the stock a mixed operating signal: sales accelerated materially, but quarterly EPS was EUR 0.05 lower year over year. For investors, the next test is whether the revenue increase broadens into profit growth rather than remaining a volume-led recovery.

Q3 results are due October 29

The next scheduled checkpoint is October 29, 2026, when Adidas is expected to present its Q3 2026 figures, according to finanzen.ch. That date matters because the September 22, 2026 share price remains EUR 51.50 below the 52-week high despite the 13.29 percent second-quarter revenue increase.

Adidas stock closed at EUR 143.15 in the market snapshot used for the September 22, 2026 analyst coverage. The current setup combines a EUR 200 RBC target with a clear earnings question: can the next report narrow the gap between sales growth and EPS performance?

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