PostNL: shares fall on broker downgrade
(CercleFinance.com) - Shares in Dutch postal operator PostNL are down over 3%, underperforming a 0.
5% rise in Amsterdam's AEX index, after a broker downgraded the stock.
On Thursday Berenberg downgraded the share from "buy" to "hold", while raising its target price from 2.5 euros to 3 euros.
"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 their comments 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.
In its report, Berenberg upgraded Belgium's bpost from "hold" to "buy", raising its target price to 11.75 euros from 7 euros previously.
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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.
5% rise in Amsterdam's AEX index, after a broker downgraded the stock.
On Thursday Berenberg downgraded the share from "buy" to "hold", while raising its target price from 2.5 euros to 3 euros.
"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 their comments 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.
In its report, Berenberg upgraded Belgium's bpost from "hold" to "buy", raising its target price to 11.75 euros from 7 euros previously.
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.