Inditex adds a new milestone to a backpack for discs which has continued to fill up in recent years and Its price exceeds 50 euros for the first time in history. With this level, with which it revalidates the historical peaks that it has exceeded since the presentation of the results of its second fiscal quarter, its market capitalization amounts to 156 billion euros and it remains the sixth company in stock market value in the euro zone. When it reaches 150 billion in capitalization (at the end of August), the Galician company already becomes the first Spanish company to reach this size.
Its annual stock market balance is 27%, but a dozen experts agree that it is Bloomberg expects its revaluation to continue to increase in the coming months, with valuations above 50 euros (see chart). Sadif Investment Analytics is the analysis firm that offers you greater potential to Inditex from current levels, with a target price of 58.50 euros (which represents a potential of 16%). HSBC and Goldman Sach estimate that the shares of the parent company of Zara will reach 55 euros in the coming months, and Jefferies, Citi and DZ Bank expect it at 54 euros.
Although many analyst firms continue to see growth in Inditex shares, the average consensus price target is 48.78 euros. A valuation that the company is already beating by 3% on Friday. The The current recommendation of the experts is to maintain Inditex shares, depending on the algorithm used elEconomista.es with FactSet market consensus.
This favorable wind that the company is experiencing is due to the results of its second fiscal quarter (which includes, in its case, from May to July). And, although half-yearly sales have slowed their growth during this period, investors have not been scared by this figure and the company has increased by 6% on the stock market since Wednesday, the day of its publication to the market. Specifically, Inditex has achieved an increase in its turnover of 7.2% in the first half, to 18,065 million euros. However, growth is slowing after having grown by 13.5% in the same period of the previous year.
“Inditex’s strong stock market position at the end of July suggests that it is well placed to take advantage of the opportunities of the important but concentrated autumn-winter season, especially if consumers are tempted to renew their wardrobes. flagship store openings [la textil ha realizado aperturas en 32 mercados, aunque el número de tiendas ha caído un 25%]with a preference for architecturally interesting locations, as well as logistical expansion to support global online sales,” they say. Bloomberg Intelligence, from where they recall that the second payment of the interim dividend of the 2023 results will be paid in November.
After the results, Renta 4 maintains the estimates for the third quarter, and explains that “the good start of sales in stores and online at constant exchange rates between August 1 and September 8, which increased by +11% over the same period in 2023, a level similar to that reached since the third quarter of 2023”.
