Deutsche Post: Commerzbank no longer on 'Buy'

(CercleFinance.com) - Commerzbank downgrades its recommendation on Deutsche Post from 'Buy' to 'Hold', with a target price of 41 euros, judging the German logistics group's 2018 targets as 'at risk' after a quarterly adjustment.


“The good news from our initial review for the first quarter is that market dynamics seem strong in the Post-eCommerce-Parcel (PeP) division and the express division”, admits the financial intermediary.

The broker does however underline that the PeP operating profit missed consensus by 10% due to inflation in transport and staffing costs. “We suspect that not all of this is exceptional”, it adds.

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