{"id":22267,"date":"2023-06-13T22:10:26","date_gmt":"2023-06-14T02:10:26","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/messis-miami-move-could-help-send-adidas-shares-up-30-analyst-says\/"},"modified":"2023-06-13T22:10:27","modified_gmt":"2023-06-14T02:10:27","slug":"messis-miami-move-could-help-send-adidas-shares-up-30-analyst-says","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=22267","title":{"rendered":"Messi’s Miami Move Could Help Send Adidas Shares Up 30%, Analyst Says"},"content":{"rendered":"
\n

Topline<\/h2>\n

Lionel Messi\u2019s high-profile migration to the U.S. will help justify tens of billions of dollars in added market capitalization for Adidas, according to Bernstein analysts, upgrading its rating for Major League Soccer\u2019s apparel partner ahead of Messi\u2019s stunning move to Inter Miami FC this summer.<\/p>\n

Key Facts<\/h2>\n
\n
\n

In a Sunday note to clients, analysts led by Aneesha Sherman upgraded Adidas from a hold to a buy, raising their price target for the German apparel giant by 23% to $112.<\/p>\n<\/p><\/div>\n

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That implies 30% upside for Adidas from its $86 share price at Friday\u2019s market close, projecting the stock to hit a 14-month high and for the company to tack on roughly $10 billion to its market value.<\/p>\n<\/p><\/div>\n

\n

Bernstein said Messi joining MLS is \u201clikely to drive U.S. market share\u201d for Adidas, citing the brand\u2019s sponsorship of the superstar, the American soccer league and Inter Miami\u2019s celebrity co-owner David Beckham, as well as Inter Miami\u2019s astronomical growth on social media in the wake of Messi\u2019s announcement.<\/p>\n

<\/fbs-ad>\n <\/div>\n

\n

The Messi-related upside was just one component of Sherman\u2019s bullishness for Adidas, as also contributing to the upgrade were above-consensus profit estimates thanks to improving margins and signs of increased popularity for the brand in China as well as a steadiness in the popularity of its former Yeezy line.<\/p>\n<\/p><\/div>\n<\/div>\n

Big Number<\/h2>\n

<\/strong>5%. That\u2019s how much Berlin-listed shares of Adidas jumped Monday, a bump largely tied to Bernstein\u2019s bullishness.<\/p>\n

Surprising Fact<\/h2>\n

Adidas will pay Messi a portion of its profits directly tied to his move to MLS, according to the Athletic. Apple, which streams MLS games on its paid streaming service, is under a similar revenue-sharing agreement with Messi, according to the Athletic and the Wall Street Journal<\/em>.<\/p>\n

Key Background<\/h2>\n

Adidas riding its Messi alliance to significant stock gains would follow a brutal last year for its partnerships with celebrities. The company\u2019s October severing of ties with rapper Kanye West, who oversaw Adidas\u2019 highly successful Yeezy line before he spewed various antisemitic tirades, led to hundreds of millions of dollars in losses as its brand reputation suffered. Adidas registered a $635 million loss during 2022\u2019s final quarter, a period in which sales slipped 2% year-over-year and 16% compared to the same time in 2020. Shares of Adidas are down more than 50% from their mid-2021 peak.<\/p>\n

<\/h2>\n

\u2018Not Because Of Money\u2019: Lionel Messi Picks Inter Miami Over Saudi Mega-Deal, Barcelona Reunion (Forbes<\/em>)<\/p>\n

Lionel Messi is reportedly getting paid by MLS, Apple, and Adidas\u2014and might even get a cut from new streaming subscribers (Fortune<\/em>)<\/p>\n

Adidas Stands To Lose $650 Million After Dropping Kanye\u2019s Yeezy Line\u2014\u2018Right Decision,\u2019 Analyst Says (Forbes<\/em>)<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Topline Lionel Messi\u2019s high-profile migration to the U.S. will help justify tens of billions of dollars in added market capitalization for Adidas, according to Bernstein analysts, upgrading its rating for Major League Soccer\u2019s apparel partner ahead of Messi\u2019s stunning move to Inter Miami FC this summer. Key Facts In a Sunday note to clients, analysts […]<\/p>\n","protected":false},"author":1,"featured_media":22268,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-22267","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-featured"],"yoast_head":"\nMessi's Miami Move Could Help Send Adidas Shares Up 30%, Analyst Says | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Topline Lionel Messi\u2019s high-profile migration to the U.S. will help justify tens of billions of dollars in added market capitalization for Adidas,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=22267\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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