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Investing.com - Bernstein downgraded DHL Group (ETR:DHL) stock rating from Outperform to Market Perform on Friday, while slightly raising its price target to EUR42.80 from EUR42.00.
The research firm cited multiple headwinds facing the logistics giant, including "Liberation Day" tariffs, the end of de minimis shipping, macroeconomic challenges, and a difficult international trade environment.
Bernstein acknowledged DHL has been "managing remarkably well" through these challenges by implementing cost-cutting initiatives that have protected earnings and cash flow while positioning the company for eventual profit recovery when volumes improve.
Despite these efforts, the research firm noted that DHL’s positive positioning "is not immediately apparent" and the company "will for now need to rely on self-help" measures rather than broader market improvements.
Bernstein suggested that competitor DSV represents a more "catalyst-rich" investment alternative that is "not dependent on macro improvements" and offers potential merger synergies.
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