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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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9,862.00p

12:20 08/11/24
-0.60%
-60.00p

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

342.60p

10:59 08/11/24
0.76%
2.60p

Boohoo Group

30.44p

12:00 08/11/24
0.79%
0.24p

FTSE 100

8,079.80

12:20 08/11/24
n/a
n/a

FTSE 250

20,511.66

12:20 08/11/24
n/a
n/a

FTSE 350

4,462.81

12:20 08/11/24
n/a
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FTSE AIM 100

3,563.04

12:20 08/11/24
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FTSE AIM 50

4,016.18

12:20 08/11/24
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FTSE AIM All-Share

735.42

12:20 08/11/24
n/a
n/a

FTSE All-Share

4,421.27

12:20 08/11/24
n/a
n/a

General Retailers

4,566.35

12:19 08/11/24
0.31%
14.04

Marks & Spencer Group

375.30p

12:19 08/11/24
-4.55%
-17.90p

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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