Zalando at share high since May 2023

Business

Credits: Zalando.

Zalando shares became the biggest DAX winner on Wednesday.

After a flat start, they moved into positive territory and increased their gains to almost six percent by lunchtime. At 32.60 euros, they reached their highest level since May 2023.

With an annual increase that has now grown to more than half, Zalando shares have built up a comfortable buffer to the four most important average indicator lines. The price is now the last to break upwards from the 50-day line.

A continued optimistic analyst opinion is likely to have contributed to the good investor sentiment. The major British bank HSBC raised its price target from 37 to 40 euros, which increases the implied price potential to around 23 percent despite the price jump on Wednesday.

Against this background, HSBC has maintained its buy recommendation. The bank is in good company, as positive ratings clearly prevail in the dpa-AFX analyzer, with only one negative assessment from the analysis house Bernstein. The experts at Hauck & Aufhäuser and Warburg, as well as the leading analysis house RBC with 50 euros, have even more optimistic price targets.

However, the recovery this year follows a price collapse that began three years ago and then led to a period of gloom from late summer 2022. From the record high of just under 106 euros in 2021, when the corona pandemic was playing into the hands of online trading, the price had collapsed to just under 16 euros to the record low in January. For a while, it was below the price of 21.50 euros that shareholders had paid when they went public in 2014. (DPA)

This article originally appeared on FashionUnited.DE, translated and edited to English.

It was translated using an AI tool. .

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