Inditex: UBS adjusts target price

(CercleFinance.com) - The group reported H1 sales that are up 7.
2% to E18.1bn. Net income rose by 10.1% to E2.8bn.

UBS highlights the company's solid sales performance for H1, which met high expectations.

All said, following this announcement, UBS confirms its neutral recommendation on the stock, while raising its target price to E48 (from E47).

We are leaving estimates broadly unchanged, as the good Q2 performance was greeted with high expectations. There are many positive points, but we remain neutral given the share's valuation, the broker says.


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