Zalando jumps after Bernstein ups to 'market perform', seeing optimized risk-return profile

Zalando SE

13/03/2026 09:25

** Shares in Zalando ZALG.DE jump 5.4% after Bernstein upgrades the European online fashion retailer to "market perform" from "underperform", seeing the risk and reward as more balanced for the company

** Bernstein says Zalando is just a department store with limited differentiation, and will remain a low margin and low return on invested capital (ROIC)

** However, it says consensus estimates are in a more moderated position and valuation is more reasonable for the German firm

** "We now see the risk and reward as more balanced with both valuation and earnings estimates coming down over the last year," Bernstein says

** Zalando posted forecast-beating FY results and 2026 guidance on Thursday, with shares soaring as much as 12% on their best day since March 2024

** The stock tops Germany's blue-chip index .GDAXI, which falls 0.8%, and is among the best performers on the pan-European STOXX 600 .STOXX index

 (Reporting by Ozan Ergenay)

 ((ozan.ergenay@thomsonreuters.com))