Inditex: Invest Securities still a buyer - raises TP
(CercleFinance.com) - Invest Securities reiterates its "buy" recommendation on the Inditex share, having raised its corresponding target price from 30 euros to 31.
8 euros, the day after the Spanish textile group published good results.
The broker emphasises that these results were "rightly" welcomed by the market (+7% during trading), combining better than expected sales and margins in particular thanks to controlled operating costs.
The broker has raised its EPS estimates for forthcoming years (+6.3%, +9.7%, +12.3%), which it says essentially reflects the integration of more effective control of operating costs than beforehand, as well as a revised revenue sequence.
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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.
8 euros, the day after the Spanish textile group published good results.
The broker emphasises that these results were "rightly" welcomed by the market (+7% during trading), combining better than expected sales and margins in particular thanks to controlled operating costs.
The broker has raised its EPS estimates for forthcoming years (+6.3%, +9.7%, +12.3%), which it says essentially reflects the integration of more effective control of operating costs than beforehand, as well as a revised revenue sequence.
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.