Bryan Garnier - Inditex (ITX SM) (ITX SM) INDITEX: In current covid-19 turmoil, remain on best-in-class business models | BUY | EUR30 vs. EUR33 (+45%)

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Bryan Garnier

Cedric Rossi

INDITEX: In current covid-19 turmoil, remain on best-in-class business models | BUY | EUR30 vs. EUR33 (+45%)

INDITEX - BUY | EUR30 vs. EUR33 (+45%)
In current covid-19 turmoil, remain on best-in-class business models

EUR287m inventory provision explained
Q1 2020: we expect a 20% FX-n sales drop
FY20 EPS assumptions reduced by 10%
New FV of EUR30, Buy recommendation confirmed

19/03/2020 4 EN

Underlying

Inditex (ITX SM)

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Provider

Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

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Analysts

Cedric Rossi

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INDITEX: In current covid-19 turmoil, remain on best-in-class business models | BUY | EUR30 vs. EUR33 (+45%)

INDITEX: 1Q’25 RESULTS (ANÁLISIS BANCO SABADELL)

INDITEX: RDOS. 1T’25 (ANÁLISIS BANCO SABADELL)

IBERIAN DAILY 11 JUNE (ANÁLISIS BANCO SABADELL)

H&M: modest signs of improvement

Emerging consolidator in Germany’s optical retail sector

Avantium: multi-year capacity reservation with Royal Hordijk

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