Zalando: UBS maintains guidance and TP

(CercleFinance.com) - Zalando has raised its outlook for FY 2024, with strong consumer demand in Q3 pushing the number of active customers above 50 million.


Following this announcement, UBS is sticking to its Neutral rating on the stock, with an unchanged TP of E27.5.

September's momentum continues into early October, Germany and Benelux are strong, and gross margin prospects are improving despite more difficult comparatives, UBS says.

The mid-point of forecasts implies a decline in margin in Q4, which can be considered conservative, the broker adds.


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