Zalando: Credit Suisse raises target price

(CercleFinance.com) - Credit Suisse reinstates its "outperform" rating on Zalando shares, having increased its target price for them from 100 euros to 106 euros, in line with an upgrade of its forecasts for the group ahead of its Q2 earnings, which are due out on 5 August.


"We believe the environment remains favourable for online retailers and Zalando has a lot of self-help through Connected Retail, a big increase in marketing (1H +85%) and brand participation", the broker says.

"We still assume a notable slowdown in 2H sales and margin and so believe forecast risk remains firmly skewed to the upside", Credit Suisse adds.

The share is currently down almost 1% at about 101.5 euros - pretty much in line with the market in Frankfurt.



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