Inditex: Credit Suisse rates 'underperform', but raises TP
(CercleFinance.com) - Credit Suisse maintains its "underperformance" rating on the stock of Spanish clothing group Inditex, while nudging up its target price from 23 euros to 23.
5 euros, given higher sales and EPS forecasts for 2021-2022.
Ahead of the annual results due out on 10 March, the broker has cut its expectations for Q4 and Q1, due to many lockdowns and restrictions in Europe, and warns that "the outlook for the rest of the year is very uncertain".
Credit Suisse considère en outre qu'à 26 fois les BPA attendus pour 2021-2022, le titre du groupe textile espagnol "se trouve survalorisé, compte tenu des vents contraires structurels et de la faible croissance".
Credit Suisse also considers that trading at 26x EPS 2021-2022e, the Spanish group's stock is "overvalued given structural headwinds and low growth".
Copyright (c) 2021 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.
5 euros, given higher sales and EPS forecasts for 2021-2022.
Ahead of the annual results due out on 10 March, the broker has cut its expectations for Q4 and Q1, due to many lockdowns and restrictions in Europe, and warns that "the outlook for the rest of the year is very uncertain".
Credit Suisse considère en outre qu'à 26 fois les BPA attendus pour 2021-2022, le titre du groupe textile espagnol "se trouve survalorisé, compte tenu des vents contraires structurels et de la faible croissance".
Credit Suisse also considers that trading at 26x EPS 2021-2022e, the Spanish group's stock is "overvalued given structural headwinds and low growth".
Copyright (c) 2021 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.