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Original-Research: Zalando SE - from Quirin Privatbank Kapitalmarktgeschäft

07.05.2026 / 12:51 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:
Recommendation: Buy
from: 07.05.2026
Target price: 34.40
Last rating change:
Analyst: Ralf Marinoni

Tailwind from About You integration and AI

Zalando delivered a solid set of figures for Q1-26 and confirmed its FY 2026
guidance. AI is not a threat to the business model, but an opportunity. We
therefore confirm our Buy recommendation and the EUR 34.40 TP.

You can download the research here:
https://eqs-cockpit.com/c/fncls.ssp?u=f160ea74dfd900815e498b9abc568b07
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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2323270 07.05.2026 CET/CEST

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