DFDS Is Starting to Move Past Challenges, Analysts Say, Reiterating Buy

• (PLX AI) - DFDS is starting to move past some of its challenges and remains attractively valued, analysts said.
• • DFDS shares fell yesterday after higher costs dented its third-quarter earnings
• • But the important Mediterranean market is already starting to turn for the better, Carnegie said, reiterating a buy rating on DFDS
• • DFDS has a lot of potential related to English Channel, where profits from tax free are not yet feeding through and the vessel sharing with P&O Ferries is just
• beginning, while profits in Mediterranean should continue to grow strongly, Carnegie said, cutting the price target to DKK 485 from DKK 500
• • DFDS's freight margins may come under pressure in 2022 on a reduced ferry utilization level following continued bottlenecks and increased competition, but the valuation is still appealing, SEB said, reiterating a buy recommendation
• • Nevertheless, we forecast 2022 EBITDA growth of 27% driven by passengers returning and the full effect from logistics acquisitions, SEB said, cutting the price target to DKK 450 from DKK 475