FRANKFURT (dpa-AFX) - DZ Bank downgraded Zalando from "buy" to "hold" after a strong start to the year in terms of share price, although the fair value was raised from 39 to 43 euros. Analyst Thomas Maul does expect the online retailer to reach its reduced targets in 2022, according to a report available Monday. However, he expects only moderate growth in 2023. Accordingly, targets are likely to be restrained due to dampened consumer confidence and an increased focus on profitability. He views the stock's further upside potential as limited after its good run./tih/gl

Publication of the original study: 16.01.2023 / 13:13 / CET First disclosure of the original study: 16.01.2023 / 13:33 / CET

-----------------------

dpa-AFX Broker - the Trader News from dpa-AFX

-----------------------