Zalando: stock falls after UBS downgrade

(CercleFinance.com) - Zalando shares are down over 1% at 37.
6 euros on Friday, after UBS downgraded its rating on the German online fashion retailer's share.

UBS analysts cut Zalando from "neutral" to "sell" and lowered their corresponding target price from 34 euros to 32 euros.

The move comes after the broker interviewed executives from some of the largest partners of ZFS, Zalando's unit that provides fashion brands with access to the group's logistics infrastructure.

"These major brands seem more reluctant to rapidly increase volumes than the market is pricing in," UBS wrote in the note.

Copyright (c) 2019 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.