Adidas Stock in Freefall: Why Analysts Are Sounding the Alarm in 2026

• Why Is Adidas Stock Crashing?
• 2026: A Make-or-Break Year?
• Bull vs. Bear: The Analyst Divide
• Bottom Line: Wait or Bail?
• FAQs

Adidas shares are nosediving faster than a striker missing an open goal, hitting a 52-week low of €143.75 as RBC slashes its price target to €160. Skepticism around 2026 growth projections has turned the once-bullish narrative into a cautionary tale. With margins under scrutiny and institutional confidence waning, investors are left wondering: Is this a buying opportunity or a sinking ship? Here’s the breakdown.

Why Is Adidas Stock Crashing?

The sportswear giant’s shares plummeted to €143.75 after RBC Capital Markets downgraded it to "Sector Perform" and cut its price target from €190 to €160. The bank’s grim outlook centers on 2026 growth—projecting just 7% organic sales growth (or a meager 3% after adjusting for World Cup hype). Even worse, their estimated EBIT margin of 9.3% falls short of the double-digit dreams investors were sold. "The optimism’s baked into the price like stale pretzels," quipped one BTCC analyst.

2026: A Make-or-Break Year?

Adidas’ 2026 roadmap is under a microscope. While Santander clings to a €212 price target, RBC and Bank of America warn that turnaround hopes are overblown. BofA’s January "double downgrade" to "Underperform" signaled the tide was turning—shares have since shed 44% from their 2025 peak of €260+. The culprit? Markets priced in a fairy-tale recovery that now looks unlikely. "Adidas needs more than three stripes to climb out of this hole," notes TradingView data.

Bull vs. Bear: The Analyst Divide

Oddly, 84% of analysts still rate Adidas a "Buy" (per Bloomberg). Santander’s bullish stance contrasts sharply with RBC’s skepticism, creating a split reminiscent of a Bundesliga derby. But with Q4 2025 earnings due in March, the bulls’ Optimism hinges on margin improvements. If Adidas stumbles, even loyalists might jump ship.

Bottom Line: Wait or Bail?

For now, the charts scream "danger." The stock’s 52-week low and shrinking institutional support suggest more pain ahead. But for contrarians? This could be a classic "blood in the streets" moment. Just don’t bet your lederhosen on it.