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Inditex Shares Tumble to Three-Year Low as JPMorgan Slashes Estimates and Price Target

Inditex SA’s stock fell to its lowest level in three years in trading on the Madrid exchange as JPMorgan cut its estimates and price target for the Zara owner. The stock fell as much as 7.1% to 25 euros, the steepest intraday drop since June 2016. JPMorgan analysts said their sales estimates imply a slowdown…

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