Zalando climbs after Barclays raises to 'overweight'

Zalando SE

13/01/2026 10:07

** Shares in Zalando ZALG.DE rise about 5% after Barclays upgraded the German online fashion retailer to "overweight" from "equal weight," citing lower risk from AI and agentic commerce

** "On balance we think Zalando scores well and perceived risk is less than feared," Barclays analysts write in a note adding that "valuation makes good entry point"

** In the case of agentic commerce, where AI agents make search and transaction choices for consumers, Barclays analysts say Zalando should be structurally better positioned to defend against possible risks of consumers omitting online retailers than investor narratives imply

** They say it is too early, however, to determine the company an "AI winner" or "AI loser" and expect markets to need a few quarters of evidence showing earnings are not at risk

** Zalando shares fell nearly 22% in 2025

 (Reporting by Marleen Kaesebier)

 ((marleen.kaesebier@thomsonreuters.com))