Zalando: Invest Securities raises target price
(CercleFinance.com) - Invest Securities believes that the group has published preliminary Q2 sales and EBIT estimates that the market welcomed (+2% yesterday).
This shows an enviable growth rates in the current environment (+26% and +28%), to such an extent that the group has significantly raised its targets for 2020, the broker said.
This trend and the growth of the Partner Program are leading the broker to integrate a much stronger scenario in terms of growth and profitability".
Invest Securities has raised its target price for the share to 67 euros (vs. 61 euros), while maintaining a neutral rating on it.
Analysts say that this target seems to fairly value the deployment of the Zalando marketplace, although does not justify more than a neutral rating given its recent performance (+43% YTD).
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