- (PLX AI) - Container shipping companies Maersk and Hapag-Lloyd and freight forwarder Kuehne+Nagle were all upgraded to buy from hold at Deutsche Bank as the analysts said the red-hot shipping industry still has upside to consensus.
- • The bank also reiterated its earlier buy recommendations on Deutsche Post and DSV
- • Earnings for these companies will peak next year, not in 2021, Deutsche Bank said
- • While the market is worried about peak earnings and valuations, there is material positive surprise to 2022 and 2023 forecasts that are yet to be factored into consensus, Deutsche said
- • The strong data and outlook make it bullish on all container and logistics stocks, Deutsche said