Deutsche Post: RBC raises target price.

(CercleFinance.com) - RBC Capital Markets reiterates its "outperform" rating on Deutsche Post, while raising its target price from 33 euros to 35 euros, saying that the shares are trading at a 17% discount to peers.


In a research note entitled "back to business," RBC cites "upward pressures" with improving European composite PMI and global PMI indices reflecting sound growth.

RBC points out that better sales volumes have supported the group historically.

"To us, composite PMI is a key indicator of future demand - which benefits DHL (and indirectly parts of the PeP parcel business)," the brokerage firm sums up.

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