Monday, May 29, 2023

Inditex: Barclays leaves it without capacity in Ibex 35

The Spanish multinational is watching this Thursday as Barclays reviews its prospects with a modest increase in its target price, but no prospects on the stock market. Inditex is tipped as one of the values ​​that move the most in 2023 on Ibex.

Inditex’ annual run on the Ibex 35 represents a loss of capacity for the company. At least if we take into account the assessment of analysts at Barclays, who on Thursday revised their outlook for the Galician company, raising their target price slightly but leaving it without potential.

Thus, the British financial institution raises the Spanish multinational’s valuation from 27 to 28 euros, which is 3.7% higher. However, in terms of share price at Wednesday’s close, the 12-month potential is -10.49%.

Those are not the only approaches, nor the most optimistic. The Reuters analyst consensus gives Inditex a target price of 32 euros, which translates into an upside of 2.33%, up 9.4% from three months ago.

Among experts covering the company headed by Marta Ortega, 68% recommend the company’s title to “buy”; 29% opted for “Holding” and only 3% preferred to sell their shares.

On Thursday morning, Inditex shares edged up a little over 0.13% in the market, which serves to soften the blow the company has suffered more than 0.5% losses over the past five days. In this 2023, the Galician multinational accumulates a 28.48% increase in the ranking, selective among the Ibex 35 values ​​that have risen the most this year.

Nation World News Desk
Nation World News Desk
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