bpost: shares up after positive broker comments

(CercleFinance.com) - bpost shares were up over 3% on Euronext Brussels following positive broker comments on the stock.


This morning, Berenberg - which has a "buy" rating on the shares - said that it has trimmed its target price for the Belgian postal service group from 11.75 euros to 11.40 euros.

The German broker made, however, some encouraging remarks about the postal group's business.

"bpost's bottom line is poised to reverse years of declines as structural growth markets become the main profit drivers," Berenberg pointed out in a note to clients.

"We think the market's view of the company should evolve from a legacy mail business to an e-commerce operator with a global presence, as it capitalises on delivery and logistics opportunities in Europe and completes a turnaround of Radial US," it added.

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