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(Sharecast News) - Deutsche Bank initiated coverage on the European clothing sector on Wednesday, with a preference for "growth companies which have adapted to changing consumer habits".
The bank started Asos, Boohoo, Marks & Spencer and Next with a 'buy' rating and target prices of 5,400p, 400p, 195p and 9,200p, respectively.
DB started H&M and Zara owner Inditex at 'sell', with target prices of SEK150 and €22. Primark owner Associated British Foods was initiated at 'hold' with a 2,200p price target.
"We prefer online versus offline, marketplace versus mono-brand retail and believe platform monetisation is key for profit growth," the bank said.
"We have created a structural framework supported by proprietary data from our DBdig team including analysing warehouse activity, social media analysis and consumer surveys.
"For shorter term trends we predict quarterly sales based on warehouse activity as well as longer term predictions for the global retailers based on sales weighted GDP forecasts."
18 Jul 2023 07:48
LONDON BRIEFING: Ocado backs annual guidance as interim loss widens
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