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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