Adidas Group Shares Get "Hold" Rating

German private bank Lampe analyst Christoph Schlienkamp recently gave sporting goods manufacturers.

Group stock "hold" rating.

Adidas group will announce the first quarter results of fiscal year 2012 at 7:30 on May 3, 2012, and announce other information by telephone conference with 15:00.

The group's sales in the first quarter will increase substantially, and will increase by 9% after the exchange rate adjustment. With the development trend of exchange rate, the sales volume is expected to increase by 12%.

Because the brand development of Adidas brand and TaylorMade has made up for the negative development trend of Reebok brand.

Adidas group's gross profit margin continued to decline in the first quarter, but its gross profit margin will remain stable throughout the year.

Although the gross profit margin has been reduced, the marketing cost in the first quarter has been less (the marketing cost will be mainly used for the two or three quarter), while other business items have improved, so the profit margin has increased slightly from 9.6% to 9.7%.

With the impact of convertible bonds, Adidas group's performance in the first quarter of this fiscal year has increased slightly, but part of its income has been offset by an increased tax rate (from 26.5% in the same period last year to 28.5%).

Annual profit will increase by 14.8%, slightly higher than sales and operating profit.

In general, analysts predict that Adidas's performance in the first quarter will grow well, but there will be no noticeable growth.

Analysts have yet to change their forecast for the group's performance.

For the future development and expectations of Adidas group, analysts still maintain their views and expect the development of Adidas group.

As a result, the German private bank Lampe analyst still retained the "holding" rating of Adidas group stock, which has a target price of 60 euros.