Zalando: Invest Securities still a buyer, raises TP

(CercleFinance.com) - Invest Securities reinstates its "buy" recommendation on Zalando shares having increased its target price for them from 94 euros to 100 euros, which represents upside potential of +33%, with analysts saying that it should be one of the big winners in the digitalisation of fashion retail in Europe.


The broker points out that the German internet clothing retailer published good Q3 results yesterday, despite a challenging comparison base after an exceptional year in 2020.

Although lukewarm to the results (the share is down 4% over the past 5 days), management nevertheless reiterated its annual guidance for 2021 and expects a solid fourth quarter, the analyst adds, who has slightly modified his 2021 EPS estimates (-3%).

The share is actually up almost 2% in early trading today.


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