Zalando SE

ZAL: XHAN (DEU)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Zaland Earnings: Stronger Than Expected, Shares Attractive

Jelena Sokolova

Mar 13, 2024

We are maintaining our fair value estimate of EUR 53 for no-moat Zalando, with the company reporting full-year results above our expectations. Management provided an updated midterm strategy, and we think shares remain attractively priced. Zalando, as the most-scaled player with a strong balance sheet and room to invest, could emerge stronger in the current general online apparel market tumult.

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Zalando SE

Zaland Earnings: Stronger Than Expected, Shares Attractive

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