(News Bulletin 247) – Stifel remains Buy and maintains a price target of 57E on the Deutsche Post share.
The company remains ‘our best choice in the logistics sector’, explains the analyst.
For the latter, Deutsche Post, offers ‘long-term structural growth, a compelling valuation FCF history (P/E at 10-11x vs. 14-15x historically and 15-17x for peers) as well as decent yields for shareholders (dividend yield ~5%, plus redemptions)’.
Stifel also believes that the most common obstacles ‘are no longer valid’. Additionally, management comments last week suggested to the analyst, ‘that the inflection point of the cycle (volumes, freight rates) is approaching’.
“The bears will run out of arguments, which will lead to a revaluation of the action in the long run,” Stifel finished.
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