bpost: shares slightly up; RBC ups target price.
(CercleFinance.com) - bpost shares are up 0.
5% at 23.7 euros today, featuring as one of the sharpest risers on Brussels' BEL 20, with RBC raising its target price on the Belgian postal company to 24 euros from 23 euros in the wake of the company's second-quarter results last week.
In a report, RBC Capital Markets says it has cut its revenue estimates, although thinks that tax cuts should help offset mail volume risk.
"A new postal is planned to be enacted by year-end and it "cannot be excluded" that the new law facilitates stamp price increases in the 2018 annual price revision round," says the broker.
RBC - whose base-case scenario incorporates stamp price increases from 2019 - repeats its "sector perform" recommendation on the stock.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
5% at 23.7 euros today, featuring as one of the sharpest risers on Brussels' BEL 20, with RBC raising its target price on the Belgian postal company to 24 euros from 23 euros in the wake of the company's second-quarter results last week.
In a report, RBC Capital Markets says it has cut its revenue estimates, although thinks that tax cuts should help offset mail volume risk.
"A new postal is planned to be enacted by year-end and it "cannot be excluded" that the new law facilitates stamp price increases in the 2018 annual price revision round," says the broker.
RBC - whose base-case scenario incorporates stamp price increases from 2019 - repeats its "sector perform" recommendation on the stock.
Copyright (c) 2017 CercleFinance.com. All rights reserved.