(CercleFinance.com) – Inditex gains more than 2% in Madrid while HSBC raised its price target on the stock on Tuesday, from 44 to 51 euros, while maintaining its buy advice on the giant’s stock Spanish for making.
In a research note, the British bank highlights annual results for 2023/2024 which came out in line with expectations, but also a better start to the financial year than expected for 2024/2025.
The establishment adds that the increase in the group’s investments, whether in the optimization of stores, the addition of new areas or the improvement of online platforms, constitutes a supporting factor for the file in the long term. term.
With a PER of 23.5x, the stock is trading at a level consistent with its five-year average of 23x, he also argues, recalling that the stock’s valuation has recently evolved between 17x and 30x.
According to HSBC, the next catalyst to expect is the publication of the company’s first fiscal quarter results, scheduled for June 5.
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