(News Bulletin 247) – Jefferies reaffirms its ‘buy’ recommendation on Inditex with a price target raised from 28 to 33 euros, in the wake of 2023/24 estimates for the Spanish textile group raised to more than 10% above consensuses.
While according to him, ‘one of the questions most frequently asked by investors at this bubbling start to the year 2023 is: when to take profits on Inditex?’, the broker answers ‘why would you?’.
‘In a world of descending uncertainties, Inditex offers solid market share gains, a widening competitive gap, unparalleled B/S strength and a bit of Chinese thrill, all wrapped up in an undemanding valuation’, he explains.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
