DHL Group: Barclays still a buyer, but trims TP

(CercleFinance.com) - Barclays confirms its "overweight" rating on DHL Group shares, albeit with a target price reduced from E52 to E49, the day after the German parcel and logistics group published its quarterly results.


"While DHL remains cyclically exposed, we believe only DGFF continues to carry some normalisation risk that will materialise by 2024", the broker says.

"We are optimistic DHL will deliver earnings growth in 2024, absent a material macro deterioration, given already recovering B2C and an eventual uptick in B2B," it adds.



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