Bryan Garnier - Inditex (ITX SM) (ITX SM) INDITEX: Volatile top line trends but increased confidence about FY margin outlook | BUY | EUR31 vs. EUR33 (+24%)

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Bryan Garnier

Cedric Rossi

INDITEX: Volatile top line trends but increased confidence about FY margin outlook | BUY | EUR31 vs. EUR33 (+24%)

INDITEX - BUY | EUR31 vs. EUR33 (+24%)
Volatile top line trends but increased confidence about FY margin outlook

Balancing act between sales momentum and protecting margins
Strengthened confidence in FY19 margin outlook
Margin benefits of the full-integrated approach
New FV of EUR31 following adjustments to our MT assumptions

13/06/2019 3 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: Volatile top line trends but increased confidence about FY margin outlook | BUY | EUR31 vs. EUR33 (+24%)

INDITEX: 4Q’24 RESULTS (ANÁLISIS BANCO SABADELL)

INDITEX: RDOS. 4T’24 (ANÁLISIS BANCO SABADELL)

INFORME DIARIO 12 MARZO + RDOS. EUROPA 4T’24. PREVIEWS (ANÁLISIS BANCO SABADELL)

Fielmann: margin potential unleashed

Fielmann: strong margin delivery in Q1 2025

Lhyfe: EUR53m debt financing

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