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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.


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