Zalando SE
ZAL: XHAN (DEU)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€14.00 | Pcpm | Ttwzglmkl |
Zaland Earnings: Stronger Than Expected, Shares Attractive
We are maintaining our fair value estimate of EUR 53 for no-moat Zalando, with the company reporting full-year results above our expectations. Management provided an updated midterm strategy, and we think shares remain attractively priced. Zalando, as the most-scaled player with a strong balance sheet and room to invest, could emerge stronger in the current general online apparel market tumult.