^ Original-Research: Zalando SE - from Quirin Privatbank Kapitalmarktgeschäft

05.08.2026 / 10:02 CET/CEST Dissemination of a Research, transmitted by EQS News - a service of EQS Group. The issuer is solely responsible for the content of this research. The result of this research does not constitute investment advice or an invitation to conclude certain stock exchange transactions.

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Classification of Quirin Privatbank Kapitalmarktgeschäft to Zalando SE

Company Name: Zalando SE ISIN: DE000ZAL1111

Reason for the research: update Recommendation: Buy from: 05.08.2026 Target price: 34.40 Last rating change: Analyst: Ralf Marinoni

Q2-26: fall in share price exaggerated

With the publication of its H1-26 results, the company revised its revenue outlook for the current year down to the lower end of the guidance range - in line with consensus estimates. We consider yesterday's sell-off to have been excessive, particularly as the average adjusted EBIT remained unchanged. We therefore reaffirm our Buy recommendation with a target price of EUR 34.40.

You can download the research here: https://nwr.eqs-cockpit.com/fncls2.ssx?fn=redirect&u=ab141061163b8ab1fd0b7c5ec7488c64 For additional information visit our website: https://research.quirinprivatbank.de/

Contact for questions: Quirin Privatbank AG Institutionelles Research Schillerstraße 20 60313 Frankfurt am Main research@quirinprivatbank.de https://research.quirinprivatbank.de/

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2377866 05.08.2026 CET/CEST

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Quelle: dpa-Afx