Analyst Jefferies today updated its research on European freight forwarders, downgrading two, upgrading one and predicting DSV will buy a $1bn+ forwarder.
Noting that, while the pace of trade had picked up last year – growth in air freight increasing 10%, sea up 6% and road 4% – the analyst warned this had created “unprecedented yield pressure and a growing performance divide”.
As a result, it downgraded Deutsche Post DHL to ‘hold’ and Panalpina to ‘underperform’, estimating 2017 figures …
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Source: The Loadstar