In a note, the broker raises its opinion on the title of the French specialist in contract logistics to “purchase”. The stock jumped on the stock market.
ID Logistics: Berenberg advises taking advantage of the stock’s recent drop | Photo credits: ID Logistics
A prosperous day on the stock market for ID Logistics. The title of the contract logistics group climbed 4.9%, to 323 euros, Tuesday afternoon, taking second place in the SRD behind Ubisoft. The reason ? A recommendation upgrade from Berenberg. In a note to its clients, the broker goes from “hold” to “buy” on the stock, to aim for a price target of 360 euros, or an upside potential of 11.4%. For analyst Axel Stasse, investors have every interest in taking advantage of the decline in the stock since the start of the year. It constitutes a ” rare entry point “, he writes, for a” unique pure player present on the attractive contract logistics market “. He does not foresee any change, either in the resistance of ID Logistics, or in its attractive position or in the prospects for growth, described as ” healthy “. The high contract renewal rate and the opportunities for external growth support medium and long-term visibility, concludes the analyst. ID Logistics is on the lookout for prey in the United States.
PC