April 1 (Bloomberg) -- Inditex SA, the clothing retailer that reported its slowest profit growth in four years yesterday, rose the most since March 2004 in Madrid trading after analysts said sales will resist any downturn in consumer spending.

Deutsche Bank AG increased its share-price estimate for Inditex to 35.50 euros from 35 euros today, while Citigroup Inc. repeated its ``buy'' recommendation.

Inditex, Europe's largest clothing retailer, advanced as much as 9.4 percent. The shares fell 1 percent yesterday, when Chief Executive Officer Pablo Isla said sales will gain 4 percent annually in coming years at stores open at least 12 months, against a prior forecast of 4 percent to 5 percent.

The owner of the Zara chain has a ``strong cost culture'' that will help it weather an economic slowdown in Spain, London- based Citigroup analyst Richard Edwards wrote. Spain's housing market is collapsing after a decade-long surge.

The Arteixo, Spain-based retailer's shares were up 2.82 euros, or 8 percent, at 38.01 euros at 3:53 p.m. local time. They're set to close at a three-month high.

Separately, Hispanidad reported that Inditex Chairman Amancio Ortega has ``seriously'' thought about ending trading of the stock, without saying where it got the information. The report is ``completely false,'' said Inditex spokesman Raul Estradera.

The company said yesterday that net income rose 16 percent to 425 million euros ($671 million) in the fourth quarter through January. Profit increased 25 percent for the full year.

To contact the reporter on this story: Gareth Gore in Madrid at ggore1@bloomberg.net

Last Updated: April 1, 2008 09:55 EDT