Zalando: tops the DAX, with Berenberg upgrade

(CercleFinance.com) - Zalando was the biggest riser on the DAX index on the Frankfurt Stock Exchange on Friday, following a recommendation upgrade by Berenberg.


Shares in the German online fashion specialist are currently up 2.6%, while the DAX is up 0.8% - to new all-time highs.

This morning, Berenberg upgraded its recommendation to 'buy' from 'hold', with its target price raised from E25.2 to E29.7, welcoming the improved market momentum of the online fashion group.

Above all, the analyst highlights the positive effects of its new strategic direction, which in his view is already producing promising results.

The implementation of the new strategy has resulted in even tighter cost discipline, with an encouraging improvement in margins, it explains.

On the stockmarket, Zalando shares have risen by around 17% YTD.


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