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Home » HSBC sees Inditex over 100,000 million euros on the stock exchange

HSBC sees Inditex over 100,000 million euros on the stock exchange

Inditex shares rose by 0.58% in the morning to 29.29 euros within an IBEX 35, which was able to rise by 0.11% at the same time. The textile giant is heading for its second positive session after weathering the financial sector-induced turmoil of the past few weeks better than the selective one, with a 20-session gain of 2.2%, climbing to 17.6% so far this one Year.

Today investors knew it the decision of the HSBC analysts to raise the target price of the Inditex share to EUR 37, from previously 34 euros. This valuation not only assumes a potential of 27% after 12 months, but also puts the market value of the company at 115,300 million euros.

Inditex remains the leader on the Spanish Stock Exchange by market capitalization at €91,250 million. The company hit 100 billion in November 2021 and is gradually approaching that level after recovering from the shock of last year’s Russian invasion of Ukraine.

One factor to keep in mind is that HSBC analysts are among the most bullish on Inditex. According to Reuters, On average, the analysts give the share a buy recommendation and a target price of EUR 31.37 which is 7.4% above the current price.

Inditex made a profit of 4,130 million euros in 2022. Revenue, EBITDA and net income hit all-time highs. The textile company is thus proposing to the Annual General Meeting that the dividend be increased by 29% to EUR 1.20 per share, which is made up of an ordinary dividend of EUR 0.796 and an extraordinary dividend of EUR 0.404 per share. The dividend consists of two equal payments: on May 2, 2023 a payment of EUR 0.60 per share and on November 2, 2023 a further payment of EUR 0.60.

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