Interactive Brokers shares jump as it secures spot in S&P 500
Investing.com - Berenberg has reduced its price target on Hapag-Lloyd AG (HLAG:GR) to EUR132.00 from EUR170.00 while maintaining a Hold rating on the shipping company’s stock.
The price target adjustment follows Hapag-Lloyd’s August 14 second-quarter financial results, which Berenberg noted were in line with sales estimates but fell "materially below" expectations for EBITDA and EBIT.
While the shipping company’s quarterly sales came in 7% higher than consensus forecasts, its operational profitability metrics underperformed market expectations.
Berenberg has consequently cut its 2025-2027 EPS estimates by up to approximately 25% for the German container shipping company.
The firm also factored slightly higher capital expenditure into its revised outlook for Hapag-Lloyd, which trades on the OTC market under the ticker HLAGF.
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