Inditex stock: Jefferies sees 67-euro upside ahead of results
Published on 11/06/2026 at 11:45 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSGrowth Supports Ahead Of Results
- Jefferies expects Inditex to deliver currency-neutral third-quarter growth of 9.5%, above the 8.4% consensus.
- The broker cites cooler European weather, a John Galliano collaboration, improved currency effects and French rules targeting ultra-fast fashion.
- Inditex is scheduled to publish its nine-month results on December 2, 2026.
Jefferies continues to rank Inditex among its preferred fashion-sector choices and expects a solid third-quarter update on December 2, 2026. The broker reiterated its buy rating and 67 euro price target, according to Bolsamania in a report published on November 4 and updated on November 5.
Jefferies expects currency-neutral sales growth of 9.5% in the third quarter, compared with an 8.4% consensus forecast. Its estimate for EBIT is 2.620 billion euros, versus 2.570 billion euros expected by consensus, implying 10% year-over-year growth. The broker also forecasts a 25-basis-point year-over-year decline in gross margin and operating-expense growth of 9%.
Several Catalysts In View
The broker points to four potential supports for the upcoming report. The first John Galliano collaboration launched at Zara on October 1, and Jefferies expects a possible contribution to become visible in the third-quarter figures. Seasonal demand could also improve as European temperatures move closer to normal levels for late October and November.
Jefferies also sees the foreign-exchange effect shifting from strongly dilutive to slightly positive in recent months. In addition, French legislation targeting ultra-fast-fashion businesses has been in force since September 1. The broker expects these changes to strengthen the relative position of established retailers such as Inditex.
The analysis also highlights Inditex's sales density and customer positioning. Jefferies estimates that Inditex revenue could be 33% higher at the end of 2026 than in January 2023, compared with 6% growth for European luxury companies, or 1% excluding ultra-luxury groups. China accounts for about 5% of Inditex sales, according to the broker, against close to 30% for the wider European luxury sector.
Upcoming Results Set The Test
Investors will focus on whether sales momentum can offset higher operating costs while keeping profitability resilient. Jefferies expects the group's growth to remain in the high-single-digit range and says store renewal and European pricing adjustments could provide further support. It also sees the potential for double-digit total shareholder returns in 2027, although that remains an analyst expectation rather than company guidance.
Inditex stock traded at 58.04 euros on Lang & Schwarz at 11:38 CET on Friday, November 6, 2026. Investors can follow the real-time quote of Inditex stock.
Inditex Stock At A Glance
- Company: Industria de Diseño Textil, S.A. (Inditex)
- ISIN: ES0148396007
- Trading venue: Lang & Schwarz
- Price: 58.04 euros on November 6, 2026 at 11:38 CET
- Next investor update: December 2, 2026, nine-month results
The IBEX 35 market remains the relevant benchmark for the Spanish-listed fashion group as investors assess both consumer demand and margin resilience.
Inditex's investor agenda lists the December 2 nine-month update as the next scheduled results event. More news and analyses on Inditex stock.
