Zalando: Deutsche Bank downgrades to 'sell'.
(CercleFinance.com) - Deutsche Bank has downgraded Zalando to "sell" from "hold," trimming its target price from 36 euros to 35 euros, citing increasing competition in Germany.
The German investment bank says Zalando appears to be facing fierce competition in its home market, Germany, where the group is now the second largest online fashion retailer behind the private group Otto.
"Its main competitive threat appears to come from Amazon which has high penetration but low share today," Deutsche says in a report dedicated to European clothing retailers.
Zalando shares are currently unchanged at 39.6 euros in Frankfurt.
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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 German investment bank says Zalando appears to be facing fierce competition in its home market, Germany, where the group is now the second largest online fashion retailer behind the private group Otto.
"Its main competitive threat appears to come from Amazon which has high penetration but low share today," Deutsche says in a report dedicated to European clothing retailers.
Zalando shares are currently unchanged at 39.6 euros in Frankfurt.
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.