Adidas Gets Rare Sell as Bank of America Sees Slowing Growth

Adidas AG shares slid on Tuesday as Bank of America Corp. gave the stock a rare sell rating, saying things are about to get tougher for the German sneaker maker.

The abrupt double downgrade sent the shares down as much as 7.6%. Analysts led by Thierry Cota predicted a return to single-digit sales growth this year, adding that Nike Inc.’s turnaround is a potential competitive threat and other brands like On, Asics and Puma may attract more attention. The bank moved its rating to underperform from buy.