Zalando: Liberum maintains buy rating, cuts target price
(CercleFinance.com) - Liberum reinstates its "buy" rating on Zalando shares, having reduced its target price for them from 90 euros to 82 euros, with its new target price representing an "excellent entry point" on the stock, following the group's Q1 results.
While the German online clothing retailer has reduced its guidance to the lower end of its previous range, the broker takes a more cautious view with an adjusted EBIT forecast that is 7% below the group's target range.
"We continue to believe that Zalando offers the best way to play the European fashion market and its gradual shift to a product and service company will lead to a sustainable profitable business," it nevertheless says.
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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.
While the German online clothing retailer has reduced its guidance to the lower end of its previous range, the broker takes a more cautious view with an adjusted EBIT forecast that is 7% below the group's target range.
"We continue to believe that Zalando offers the best way to play the European fashion market and its gradual shift to a product and service company will lead to a sustainable profitable business," it nevertheless says.
Copyright (c) 2022 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.