Inditex shares benefit from Jefferies' optimism

(CercleFinance.com) - On Friday, Inditex shares posted the second-biggest rise on the IBEX 35 index, in the wake of positive comments from Jefferies analysts.


The Spanish ready-to-wear giant's shares are currently up 2.7%, compared with a 0.5% gain for the Madrid Stock Exchange's benchmark index.

In a note released today, Jefferies' teams said they considered the fashion group's stock to be "insufficiently recognized" on the stock market, despite its well-established qualities.

In their view, the Spanish fashion house is a safe and attractive investment at a time when some of the big names in consumer goods are going through a difficult period.

According to the research firm, the quarterly results to be published on September 11 should confirm the group's ability to generate double-digit growth in both sales and profits.

Jefferies therefore renews its Buy recommendation on the stock, with a target price of €51, indicating a 15% upside potential.

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