Shares in Inditex fall after JP Morgan cuts price target


LONDON (Reuters) - Shares in Zara fashion chain owner Inditex fell more than 7 percent to a three-year low on Friday after JP Morgan cut its price target for the company weeks before it is due to report annual results. Inditex, due to report on March 14, will hold a conference call with financial analysts later on Friday, according to traders.

Inditex could not immediately confirm whether it planned to hold such a call.JPMorgan said it was cutting its price target to 35.5 euros from 38 euros and its forecasts by 5 percent due to negative foreign.....

This article is no longer available in our repository.

There could be multiple reasons for this.