Report
Cedric Rossi

ADIDAS GROUP: Brace for a strong year-end 2019 and... a pivotal year 2020 | NEUTRAL | EUR290 (-4%)

ADIDAS GROUP - NEUTRAL | EUR290 (-4%)
Brace for a strong year-end 2019 and... a pivotal year 2020

adidas sprinted during Q4 2019...
... and should catch its breath in Q1 2020
Difficult to predict 2020 as ADS is stretched between two MT plans
Wait-and-see mode despite attractive MT catalysts
Underlying
Adidas AG

ACM Managed Dollar Income Fund is a non-diversified, closed-end management investment company. This closed-end investment fund is designed for investors who seek high current income and capital appreciation. In order to achieve this objective, Co. invests primarily in high-yielding, U.S. and non-U.S. fixed income securities, denominated in U.S. dollars, that it expects to benefit from improving economic and credit fundamentals. Co. may utilize leverage through the investment techniques of reverse repurchase agreements and dollar rolls. As of Sept 30 2007, Co. had total assets of $192,614,325 and investment portfolio totalled $178,906,534.

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Cedric Rossi

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