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ADDDF - Coronavirus Creates Entry Opportunity In Adidas
Adidas AG
Investment Thesis
Adidas (OTCQX:ADDYY) offers the chance to buy a growing yet nicely profitable company for a discount. The Coronavirus has further pushed the stock price to the downside, increasing the gap to my fair value estimate. In my view, the discount is enough to account for the added risk from the disease, but the uncertainty regarding the development of the virus makes it difficult to estimate the precise impact at this time. This a stock for the those willing to take the short-term risk to buy a quality company at a reduced