Adidas Hit With Rare Double Downgrade as BofA Says ‘Casualization’ Trend Is Over

Adidas shares plunged sharply on Tuesday, dropping about 7% and making the company the worst performer in Europe’s Stoxx 600 index after **Bank of America (BofA)** issued an unusual **double downgrade** on the sportswear giant. BofA cut Adidas’s stock rating from *Buy* to *Underperform* and lowered the price target from **€213 to €160**, citing concerns that the long‑running **“casualization” trend** — the shift toward sneakers and comfort wear that boosted demand during and after the pandemic — has peaked and is now ending. Analysts at BofA also pointed to expectations that organic sales growth will slow following major events like the World Cup, and key performance indicators suggest weak momentum in brand traction, revenue, and broader macroeconomic data. They noted that industry downturns typically last 1–2 years but contend that the current slump in sporting goods may persist longer, with sales likely to grow only in line with global GDP. BofA’s downgrades extended to others in the sector, including JD Sports, while Puma and On Holding were left with neutral or buy ratings. #Adidas #StockMarket #BankOfAmerica #CasualizationTrend #SlimScan #GrowthStocks #CANSLIM