(News Bulletin 247) – After the announcement of Zalando’s results this morning, Stifel is still buying the stock and keeping its price target at 55E.
For Stifel, the figures are ‘in line with consensus expectations for GMV and adjusted EBIT, but ~5% lower for revenue’.
Initial guidance for FY23 calls for ‘GMV growth of 1-7%, revenue growth of -1 to +4% and adjusted EBIT of 280-350 million euros’, notes the analyst for which this objective reflects ‘the persistence of high macroeconomic uncertainty and management’s focus on profitability, which we find very encouraging’.
“The GMV target is broadly in line with consensus while the revenue outlook is arguably weaker, showing an even stronger focus on market activities,” adds Stifel.
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