Global Blue initiated with a Buy at Deutsche Bank

Deutsche Bank initiated coverage of Global Blue with a Buy rating and $8 price target. Global Blue is the global leader in the tax-free shopping industry providing technology and payment solutions that allow merchants to capture value-added tax refunds and improve the international shopping experience for consumers, the analyst tells investors in a research note. The company has seen significant improvement across all key metrics, which should continue as tax-free spend continues to recover in Continental Europe and Asia, contends the firm. It says Global Blue is well positioned to benefit from the secular growth in luxury spending.