Inditex's second quarter results divide analysts' opinion

Inditex registered a profit of 850 million euros and invoiced 6,993 million euros between May and July of this year. These results represent an improvement of 48 percent over the comparable 2020 period and a 1.2 percent jump from the same quarter of 2019.

Quarterly revenues not only exceeded market forecasts but have become the second best in the group’s history. “Inditex’s recovery continues to gain strength,” confirms Iván San Félix, Renta 4 analyst, in an analysis collected by Finanzas.com.

However, Inditex has not been able to drive an agreement amongst the analysts who cover its shares.

At one extreme, Bestinver, which recommends buying Inditex at an upwardly revised price of 38.50 euros, and Kepler Cheuvreux also advise buying Inditex securities at 37.60 euros.

In another, Berenberg analysts, who have lowered their target price to 21 euros or Deutsche Bank, which advises to sell. The German bank has a target price of 23 euros per share, just two euros less than the price set by Credit Suisse.