(CercleFinance.com) – While lowering its price target from 53 to 50 euros, Stifel reiterates its ‘buy’ advice on DHL Group, judging that its valuation ‘does not reflect the ongoing transformation of EBIT and FCF, structural growth and shareholder returns’.
‘The recovery in DHL Express’s B2C volumes in October could, if maintained, presage a broader recovery in volumes driven by B2B’, judges the broker in the summary of its note on the German logistics group.
As factors for EBIT growth over 2023-25, Stifel cites the pricing power of DHL Express, changes in German postal law, parcel prices in Germany and the structural growth of DHL Supply Chain.
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