PostNL: shares up; Jefferies raises target price
(CercleFinance.com) - PostNL shares are up 5.
9% at 2.2 euros, after hitting a multi-year low earlier this month, after Jefferies raised its target price for the stock from 4 euros to 4.5 euros, keeping a "buy" rating on the stock.
In a note to clients, the US broker said that the shares of the Dutch postal operator are currently trading at a discount of 34% relative to peers.
"PostNL shares fell 50% in 2018, underperforming the European postal sector by 10%, reflecting adverse regulatory measures, despite political support," it wrote in the report.
Jefferies estimates that a takeover of the Dutch delivery company Sandd would add 1 euro per share.
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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.
9% at 2.2 euros, after hitting a multi-year low earlier this month, after Jefferies raised its target price for the stock from 4 euros to 4.5 euros, keeping a "buy" rating on the stock.
In a note to clients, the US broker said that the shares of the Dutch postal operator are currently trading at a discount of 34% relative to peers.
"PostNL shares fell 50% in 2018, underperforming the European postal sector by 10%, reflecting adverse regulatory measures, despite political support," it wrote in the report.
Jefferies estimates that a takeover of the Dutch delivery company Sandd would add 1 euro per share.
Copyright (c) 2019 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.