Shares: Adidas recovers following positive Citigroup outlook

Adidas shares benefited from a positive outlook from Citigroup on the reporting season on Friday morning.

Shares in the Herzogenaurach-based company climbed by up to 1.4 percent on the Tradegate trading platform to almost 139 euros (162.4 dollars), above their previous day's closing price on Xetra. Technical chart resistance is expected at the 140 euro mark.

While there was some confusion surrounding the new price target from expert Monique Pollard, it is clear she is sticking with her buy recommendation and sees immense recovery potential. Adidas shares have lost 19 percent year-to-date.

Pollard sees strong global growth opportunities, particularly in the running shoe sector. Additionally, she views the upcoming Football World Cup as a massive sales driver.

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