adidas: Fundamentals Improving but Market Still Discounts the Upside
adidas (ADDYY) shows signs of operational stabilization: a reasonable P/E of 18, falling short interest, improving technical momentum, and a market cap of about $28.9B that does not fully reflect the recovery in fundamentals. We upgrade to a tactical long with entry at $80.19, a stop at $76.00, and a primary target of $95.00 over a position horizon…