0811 GMT - Adidas has more growth drivers than the market might currently recognize, AlphaValue's Jie Zhang says. The German sporting goods company has gained ground against major competitors and continued to invest in its sporting roots beyond lifestyle products, the analyst writes in a note. "Adidas can build its next growth phase around performance rather than rely on another lifestyle hit," she says. Furthermore, Nike's ongoing reset gives Adidas a valuable window to gain share, the analyst says. Adidas is also benefiting from its local approach to markets like China. "Giving local teams greater influence over design and assortments allows Adidas to respond to demand that a single global product plan might miss," Zhang adds. Shares rise 1%.