bpost: shares tumble further after broker downgrade
(CercleFinance.com) - Berenberg has downgraded its rating on bpost from "buy" to "hold," saying that the Belgian postal company has been "caught in a mail spin.
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The broker also slashed its target price for the stock, now expecting 10 euros, vs. 17 euros previously.
The downgrade comes after bpost said on Tuesday that it expected 2019 to be a "challenging year," which saw the shares plummet 22%.
bpost shares are currently down a further 9.6% at 7.7 euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
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The broker also slashed its target price for the stock, now expecting 10 euros, vs. 17 euros previously.
The downgrade comes after bpost said on Tuesday that it expected 2019 to be a "challenging year," which saw the shares plummet 22%.
bpost shares are currently down a further 9.6% at 7.7 euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.