bpost: shares jump after analyst upgrade
(CercleFinance.com) - bpost shares jumped Thursday after Berenberg upgraded its rating on the stock, citing the Belgian postal company's exposure to e-commerce.
"2020 has been a volatile year for a sector already under pressure, with long-term structural trends in both mail and parcels accelerated by the pandemic," Berenberg analysts said in a note on European transport and logistics players.
"As we return to some sort of new normal in 2021, we prefer those operators with a higher exposure to e-commerce and better geographic profiles," they added.
The German broker upgraded the stock from "hold" to "buy", boosting its target price to 11.75 euros, from 7 euros previously, although downgraded its rating on PostNL from "buy" to "hold".
bpost shares are currently up over 4% on Euronext Brussels.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"2020 has been a volatile year for a sector already under pressure, with long-term structural trends in both mail and parcels accelerated by the pandemic," Berenberg analysts said in a note on European transport and logistics players.
"As we return to some sort of new normal in 2021, we prefer those operators with a higher exposure to e-commerce and better geographic profiles," they added.
The German broker upgraded the stock from "hold" to "buy", boosting its target price to 11.75 euros, from 7 euros previously, although downgraded its rating on PostNL from "buy" to "hold".
bpost shares are currently up over 4% on Euronext Brussels.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.