Analysts report slightly higher EBIT in Q4, while current trading is strong and outlook reassuring.

UBS confirms its Buy recommendation on the stock, with an unchanged price target of E40.

' Fourth-quarter EBIT was slightly ahead of VA's forecast, while the current strong activity of 11% and annual growth between 2024 and 2026 offer a reassuring outlook ' says UBS.

We expect strong sales productivity in our stores in the future. Annual gross space growth over the period 2024-2026 is expected to be around 5%. For 2024, Inditex expects a stable gross margin (+/-50 bp).

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