FRANKFURT (dpa-AFX) - New optimism from Adidas lifted the sporting goods manufacturer's shares to their highest level for a good two years on Wednesday. They outpaced the somewhat recovered Dax in the morning with a recent plus of 6.4 percent to 215.50 euros, after climbing to just over 217 euros at the peak.

This means they have also made up half of their correction since the record high of just over 336 euros in August 2021 - sending a strong technical signal. In Adidas' wake, the shares of rival Puma also rose by 1.4 percent in the front MDax field in the middle of the week.

Adidas is now forecasting a mid to high single-digit percentage increase in sales for the year as a whole, adjusted for currency effects. Previously, growth in the mid single-digit percentage range had been announced.

In initial reactions, analysts praised the development of the Herzogenaurach-based company: "The key figures confirm the increasing business dynamics," wrote Zuzanna Pusz from UBS. Adidas offers one of the best growth stories in the industry. Olivia Townsend from JPMorgan spoke of the report of a "big game player". Pusz and Townsend raised their price targets to 231 and 240 euros respectively.

Bernstein analyst Aneesha Sherman remains slightly below the current share price with her price target raised to 195 euros, but also sees Adidas on the right track and considers the annual forecast to remain conservative after the strong start to the year. Their longer-term expectation of a steady and sustained recovery remains valid.

The long-term upward trend of Adidas shares since the lowest level since 2016, marked in fall 2022, has been exemplary. The development in 2024 alone is also impressive: With a plus of 17 percent since the beginning of the year, Adidas shares are among the top ten stocks in the Dax./ajx/ag/jha/