HALISTER1: Kuehne Jumps to Highest in 1Y as Jefferies, Vontobel Lift PT

Kuehne Jumps to Highest in 1Y as Jefferies, Vontobel Lift PT

(Bloomberg) -- Kuehne + Nagel trades at CHF141.50, highest since May 2015, after jumping as much as 4.1%
  • Shares earlier traded as high as CHF142.2; volume in line with avg.
  • Vontobel lifted its price target for the shares to CHF145 from CHF141 with a “hold” recommendation
    • Says co. continues to perform well in a difficult market environment with hardly any volume growth and high rate volatility; maintains best-in-class profitability levels with help from efficient IT systems and processes
    • Balance sheet and cash flow generation remain strong
  • Jefferies also lifts price target to CHF130 from CHF125 with a “hold” recommendation
    • Still, notes that co. remains most expensive European freight forwarder
  • Helvea-Baader maintains PT to CHF137
    • Says it’s a quality co. and “good to see that important Asia-Europe trade-lane is returning to growth”; however, environment remains difficult and valuation is “rather high”
  • NOTE: Kuehne + Nagel 1Q Ebit rises 14% to CHF217m; more here
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
KNIN VX (Kuehne + Nagel International AG)

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