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Zalando: UBS upgrades to 'neutral', raises target price

( - On Wednesday UBS upgraded the stock of German online fashion retailer Zalando from "sell" to "neutral", while almost doubling its corresponding target price to 64 euros, from 34 euros.

While data supports a more positive view on the topline, profit and margin outlook, the broker believes that these new, higher expectations are already priced in.

Up 0.1% in Franfkurt, Zalando shares are just keeping their head above water, compared to a broadly flat German stock market.

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