Deutsche Post "buy," target price raised

16.09.09 - ING Financial Markets

LONDON, September 16 (newratings.com) - Analysts at ING Financial Markets reiterate their "buy" rating on Deutsche Post (DPW). The target price has been raised from ?11 to ?15.

In a research note published this morning, the analysts mention that the company is poised to benefit from the strong sequential improvement in air and sea freight volumes. Deutsche Post?s cyclical business divisions are expected to profit from the continued momentum in the underlying markets, the analysts add. The expected fall in volumes in 1H10 would boost the company?s earning power, as it benefits from buying at lower prices while maintaining high sales prices, ING Financial Markets says.