Zalando: UBS reiterates buy rating
(CercleFinance.com) - The analyst believes that Q1 results are broadly in line but says that the FY 2022 guidance, implying a decline in adjusted EBIT.
The company Zalando expects adjusted EBIT to be at the lower end of a range of 430 to 510 million euros.
Following this announcement, UBS confirms its buy rating on the stock with a target price of 87 euros.
"Revenue was -1.5% yoy (in-line with UBSe -1.5%) and adj EBIT was -EUR51.8m (in-line with UBSe -EUR51.4m). By region, DACH revenue was slightly (-1.6%) below our forecast," the analyst said.
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