Adidas slips after UBS cuts to 'sell'

** Shares in Adidas ADSGn.DE are down around 2%; a local trader flags UBS cutting its rating to "sell" from "neutral"

** UBS cites growing mismatch between the stock's valuation and near-term earnings prospects

** It doubts Adidas can deliver its 2027 sales growth target without significant market share gains, as it expects industry growth at low single digits in 2026-27

** The broker also sees gross margin pressure from bigger exposure to lower-margin products and higher input costs

** UBS trims its PT by 2.5% to €156

** Out of 31 analysts, 23 rate the stock "strong buy" or "buy", ​7 rate it "hold" and one "sell" - LSEG data