Inditex: Invest Securities still a buyer, but cuts target
(CercleFinance.com) - Invest Securities reiterates its "buy" rating on the Inditex share, while cutting its corresponding target price from 34.
2 euros to 23.5 euros, the day after the Spanish clothing group reported good 2019-20 results.
Over 2020, at this stage the company is not able to provide quantified targets, although has given some details that enable the current crisis to be appreciated, notes the analyst who monitors the share, which in turn has suffered from uncertainties relating to the Covid-19 epidemic.
However, the broker maintains its buy rating on the share, noting the relevance of Inditex's business model and the robustness of its financial structure (net cash of eight billion euros), clearly strenths in the context current.
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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.
2 euros to 23.5 euros, the day after the Spanish clothing group reported good 2019-20 results.
Over 2020, at this stage the company is not able to provide quantified targets, although has given some details that enable the current crisis to be appreciated, notes the analyst who monitors the share, which in turn has suffered from uncertainties relating to the Covid-19 epidemic.
However, the broker maintains its buy rating on the share, noting the relevance of Inditex's business model and the robustness of its financial structure (net cash of eight billion euros), clearly strenths in the context current.
Copyright (c) 2020 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.