Industria De Diseno Textil SA Share From Split

ITX: XMAD (ESP)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Inditex Posts Solid Results; Boosts Dividend and Capital Expenditure; Shares Attractive

Jelena Sokolova

Mar 15, 2023

We maintain our fair value estimate of EUR 32 for narrow-moat Inditex as the company reported very solid full-year results despite headwinds from inflation and discontinued operations in Russia and Ukraine. Inditex remains our preferred pick in European apparel, trading in 4-star territory with around 10% upside to our fair value, even despite 30% price appreciation over the last year and significantly exceeding STOXX Europe 600 Index’s low-single-digit performance.

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Industria De Diseno Textil SA Share From Split

Inditex Posts Solid Results; Boosts Dividend and Capital Expenditure; Shares Attractive

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