Inditex: RBC sees a buy opportunity.
(CercleFinance.com) - RBC Capital Markets on Monday reiterated its "outperform" rating on Inditex, with a target price of 36 euros, seeing a buy opportunity after the summer sell-off.
The Canadian brokerage firm points out that the Spanish fasion retailer's shares have fallen by 15% since their peaks in June reflecting "concerns over margins and the macro environment."
"However we think Inditex should continue to offer best-in-class performance, including the potential for durable low -to-mid teens growth over time and a healthy ROCE of over 20%," the broker notes.
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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 Canadian brokerage firm points out that the Spanish fasion retailer's shares have fallen by 15% since their peaks in June reflecting "concerns over margins and the macro environment."
"However we think Inditex should continue to offer best-in-class performance, including the potential for durable low -to-mid teens growth over time and a healthy ROCE of over 20%," the broker notes.
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.