Zacks Investment Research Upgrades Inditex (IDEXY) to Buy

Inditex (NASDAQ:IDEXY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm presently has a $22.00 price target on the stock. Zacks Investment Research‘s price target indicates a potential upside of 12.30% from the stock’s previous close.

According to Zacks, “Industria de Diseño Textil, S.A., is a fashion retailer operating worldwide. The company also involves in the business of textile designing, manufacturing, and distribution. It welcomes its shoppers at its various store formats, such as Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home and Uterqüe . It has several stores in several countries. Industria de Diseño Textil, S.A. is headquartered in Arteixo, Spain. “

Separately, Berenberg Bank reiterated a “hold” rating on shares of Inditex in a report on Thursday, June 15th.

Shares of Inditex (NASDAQ:IDEXY) opened at 19.59 on Wednesday. The company has a market capitalization of $121.95 billion and a P/E ratio of 33.46. The company’s 50 day moving average price is $20.08 and its 200 day moving average price is $17.82. Inditex has a 12 month low of $15.50 and a 12 month high of $20.80.

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