Zalando: Invest Securities starts monitoring as a buyer
(CercleFinance.com) - Invest Securities has decided to begin tracking the Zalando stock with a "buy" rating and a target (based on a DCF valuation method) of 61 euros (14% upside).
Despite bottoming out in February/March due to panic stemming from the covid-19 crisis, the stock has risen sharply (+40% over 1 month), particularly after the publication of Q1 results, which in the broker's opinion, illustrate the resilience of the company's business model and its relevance in the current crisis, analysts say.
Zalando still has a lot of potential to further grow its sales, which should be helped by lockdown measures that are boosting interest from consumers and fashion brands for online sales, Invest Securities adds.
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