Inditex: share down after publication of Q2 results.
(CercleFinance.com) - The Inditex share is down 1.
5% on the Madrid Stock Exchange today following the group's publication of its Q2 results.
Invest Securities has confirmed its "buy" rating on the Inditex share, although has trimmed its target price from 41 euros to 39 euros, in the wake of its cut in EPS estimates, which, over the next three years it has respectively reduced by -3.9%, -0.9%, and -0.2% for the Spanish clothing company.
"Q2 results that were published yesterday came in below expectations, due to a negative currency effect," the analyst pointed out, adding that organic sales growth suffered from a slowdown as expected, although growth picked up again at the start of Q3.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
5% on the Madrid Stock Exchange today following the group's publication of its Q2 results.
Invest Securities has confirmed its "buy" rating on the Inditex share, although has trimmed its target price from 41 euros to 39 euros, in the wake of its cut in EPS estimates, which, over the next three years it has respectively reduced by -3.9%, -0.9%, and -0.2% for the Spanish clothing company.
"Q2 results that were published yesterday came in below expectations, due to a negative currency effect," the analyst pointed out, adding that organic sales growth suffered from a slowdown as expected, although growth picked up again at the start of Q3.
Copyright (c) 2017 CercleFinance.com. All rights reserved.