Zalando: Credit Suisse raises target price
(CercleFinance.com) - Following recent statements, Credit Suisse has further raised its estimates, looking for a FY 2020 EBIT margin of 3.
0%, against 2.2% previously.
The broker has confirmed buy rating on the share, nudging up its corresponding target price target to 67 euros (up from 66 euros).
"Store sales are improving but have been weak (TT -24% 8w) so for now Zalando is clearly benefitting from continued weak store footfall... this should improve through 2H (assuming no second wave)," Credit Suisse says.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.