Deutsche Post: Credit Suisse retains 'underperform'.

(CercleFinance.com) - Credit Suisse maintains its "underperform" rating on Deutsche Post, albeit with a target price increased from 25.
19 euros to 29.86 euros, while noticing 2017 outlook looks "more pedestrian than 2016."

Following 2016 results, the broker has made minor changes to its estimates - reducing 2017 and 2018 EBIT forecasts by 1%.

Credit Suisse has raised its target price to factor in improved confidence around the resilience of the PeP (post, eCommerce, parcel) division in particular.

The broker also says it sees a 7% downside potential to the current share price, following an "impressive" 14% outperformance of the DAX on a 12-month basis.

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