Zalando: Stifel still a buyer, trims TP
(CercleFinance.com) - Stifel confirms its "buy" rating on Zalando shares, while trimming its target price for them from E40 to E38, after a reduction in its GMV and adjusted EBIT estimates for 2024 and 2025, against a backdrop of persistently low visibility on consumer sentiment.
Pending its Q3 trading update, the broker expects the German online clothing retailer to reiterate its full-year targets, "albeit at the low end of the target corridor".
All said, analysts "believe there is increasing value in the shares as structural trends in eCommerce are unbroken and ZAL is well positioned to take advantage of a market pick-up".
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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.
Pending its Q3 trading update, the broker expects the German online clothing retailer to reiterate its full-year targets, "albeit at the low end of the target corridor".
All said, analysts "believe there is increasing value in the shares as structural trends in eCommerce are unbroken and ZAL is well positioned to take advantage of a market pick-up".
Copyright (c) 2023 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.