Westwing: NuWays reiterates Buy, EUR 23.50 target

NuWays reiterated a BUY rating on Westwing with an unchanged 12-month target price of EUR 23.5. The firm cited conference feedback and recent share price weakness, flagging roughly 100% upside from current levels. Expansion continued with launches in Ireland and Bulgaria, lifting its European footprint to 28 countries. NuWays forecast a 1.2pp year-on-year drop in FY adjusted EBITDA margin to 8.6%, citing UK marketing spend and weak Germany demand.