(News Bulletin 247) – Stifel remains Buy on the Zalando share and maintains its price target at 55E.
‘We believe there has been a remarkable shift in mindset on how ZAL will be managed in times of continuing high macro-economic uncertainty,’ notes the analyst.
The confidence displayed by the management in the fact that the initiatives will lead to better structural profitability is noted by the analyst.
‘Assuming a sustained rebound in consumer confidence, the objective of an adjusted EBIT margin of 6% for the 25E financial year seems increasingly achievable’, continues the broker for whom ‘a full recovery of the world market will probably only occur from the third quarter onwards.
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