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The following Equity Research examines adidas AG, Europe's largest
sportswear company, with the aim of providing investors a comprehensive
recommendation based on current valuation. The analysis commences with a
thorough company overview and a detailed examination of the global
sportswear industry, emphasizing adidas' competitive landscape. Identifying
key business drivers, including macroeconomic factors, industry growth
drivers, and corporate strategy, is integral.
Utilizing a Discounted Cash Flow (DCF) valuation model, adidas' equity value
is forecasted by geographical segment. The investment thesis centers on the
company's potential growth through capitalizing on athleisure, sustainability,
and e-commerce trends. The DCF model suggests a fair value of ā¬202 per share,
leading to a BUY recommendation given the current share price of ā¬173.
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Adidas ag Sportswear industry Dcf Multiples analysis
