NEW YORK (dpa-AFX) - The US investment bank Bank of America (BofA) has downgraded Zalando from "Buy" to "Neutral" and lowered its price target from 40 to 21 euros. Analyst Geoffroy de Mendez downgraded a total of five stocks in an industry study on European fashion retailers published on Wednesday. After an exceptional year in 2023, 2024 will be characterized by more challenges. He downgraded Zalando due to fears that its long-term growth profile has deteriorated due to increasing competition from brand websites or the Chinese retailers Shein and Temu. He believes that double-digit growth is no longer achievable./tih/gl

Publication of the original study: 17.01.2024 / 12:30 / EST First dissemination of the original study: 17.01.2024 / 12:30 / EST

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

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

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