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Investing.com - Kepler Cheuvreux downgraded DHL Group (ETR:DHL) from Buy to Hold and reduced its price target to EUR43.00 from EUR45.00 on Friday.
The downgrade comes despite DHL’s strong performance so far, with Kepler Cheuvreux noting that risks are now "skewed to the downside" for the remainder of the year.
The research firm expressed concerns about DHL’s ability to achieve its fiscal year 2025 guidance of more than EUR6 billion in EBIT as macroeconomic headwinds intensify.
As a result, Kepler Cheuvreux has cut its mid-term EBIT estimates for DHL by a mid-single-digit percentage.
The firm also highlighted that DHL faces greater exposure to potential downturns in freight volumes compared to its freight forwarding peers, leading Kepler Cheuvreux to see "better value elsewhere" in the sector.
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