UBS believes that a strong growth rate in Q1 is likely. The analyst confirms his neutral recommendation on the stock, but raises his price target to E25 (from E23), which represents a downside potential of -4%.

' We are raising our target price to E25 (from E23) as we see strong growth and current activity in the first quarter. We remain neutral until we see sustained momentum and a B2C revival' says UBS in today's note.

Zalando is targeting a compound annual growth rate of 5-10% for both gross merchandise volume (GMV) and sales over the next five years.

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