Zalando: Morgan Stanley reiterates 'overweight' rating.
(CercleFinance.com) - Morgan Stanley maintains an "overweight" rating on Zalando, with a target price of 46 euros, after the online fashion retailer hosted a capital markets day yesterday.
The brokerage film said that the German company has showed "operational strength, innovation and most importantly great relevance to brands."
Morgan Stanley points out that Zalando has also confirmed a strong outlook, with greater clarity over long-term targets.
"It was however tainted by news on Amazon's new Prime Wardrobe," the broker acknowledges in a note, while insisting Zalando remains a "top European Internet pick."
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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.
The brokerage film said that the German company has showed "operational strength, innovation and most importantly great relevance to brands."
Morgan Stanley points out that Zalando has also confirmed a strong outlook, with greater clarity over long-term targets.
"It was however tainted by news on Amazon's new Prime Wardrobe," the broker acknowledges in a note, while insisting Zalando remains a "top European Internet pick."
Copyright (c) 2017 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.