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Michele Maatouk Sharecast News
25 Aug, 2021 10:03

Deutsche Bank initiates coverage of European clothing sector

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9,838.00p

13:05 23/12/24
0.33%
32.00p

Deutsche Bank initiated coverage on the European clothing sector on Wednesday, with a preference for "growth companies which have adapted to changing consumer habits".

ASOS

410.80p

13:04 23/12/24
2.80%
11.20p

Boohoo Group

33.42p

12:44 23/12/24
0.84%
0.28p

FTSE 100

8,102.96

13:05 23/12/24
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FTSE 250

20,426.73

13:05 23/12/24
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FTSE 350

4,471.40

13:05 23/12/24
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FTSE AIM 100

3,442.51

13:05 23/12/24
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FTSE AIM 50

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FTSE AIM All-Share

711.92

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FTSE All-Share

4,429.05

13:05 23/12/24
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General Retailers

4,666.34

13:05 23/12/24
0.45%
21.05

Marks & Spencer Group

378.40p

13:05 23/12/24
-0.26%
-1.00p

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."

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