The shares of Zalando have come under pressure in view of a negative classification by Morgan Stanley.
Shortly after the start of trade, the fashion retailer’s papers slipped by 2.8 percent to 32.79 euros, which meant the last place in the DAX. Luke Holbrook, analyst of the US investment bank, now votes 28.50 euros at the price target with “Underweight”.
The shares have increased since the US customs flood, although the risks had increased, the expert wrote. Since the year at the beginning of April, as a result of the customs conflict, the Zalando shares had temporarily recovered by a good third to 36.76 euros, before they recently corrected something again, but were still in a good 6 percent in April in April.
In addition, ABOUT YOU is rated higher when taking over by Zalando than the DAX group, Holbrook calculated with a view to the price-profit ratio. In view of the higher market shares as well as better profitability and cash inflows, he had expected other things.
Zalando had recently secured more than 90 percent of his competitor’s share capital. With the price for this, ABOUT YOU is valued with a total of 1.2 billion euros, says Holbrook.