Zalando: BofA resumes coverage as buyer
(CercleFinance.com) - Bank of America on Monday resumed coverage of Zalando shares with a Buy recommendation and a target price of E33, citing the growth posted by the German group.
The US investment bank highlights the improving penetration rate of the online apparel sector, a phenomenon that should enable Europe's leading Internet ready-to-wear group to win market share.
With this in mind, BofA forecasts average annual sales growth of 7.4% for the Berlin-based group over 2023 to 2028.
Despite its growth profile and solid balance sheet, Zalando shares are currently trading at a 40% discount to their peers, it notes.
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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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
The US investment bank highlights the improving penetration rate of the online apparel sector, a phenomenon that should enable Europe's leading Internet ready-to-wear group to win market share.
With this in mind, BofA forecasts average annual sales growth of 7.4% for the Berlin-based group over 2023 to 2028.
Despite its growth profile and solid balance sheet, Zalando shares are currently trading at a 40% discount to their peers, it notes.
Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.