DSV Panalpina

Analyst updates, 04.12.

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- BARCLAYS raises the price target for SIEMENS from EUR 125 to EUR 130. Underweight. $SIE (+0,55%)

- BARCLAYS raises the target price for SIEMENS ENERGY from EUR 35 to EUR 36. Equal-Weight. $ENR (+3,76%)

- JEFFERIES raises the target price for ADYEN from EUR 1695 to EUR 1797. Buy. $ADYEN (+0,38%)

- JPMORGAN raises the target price for SALESFORCE from USD 340 to USD 380. Overweight. $CRM (+0,21%)

- HSBC raises the target price for ZALANDO from EUR 37 to EUR 40. Buy. $ZAL (-2,75%)

- JPMORGAN raises the target price for RHEINMETALL from EUR 680 to EUR 800. Overweight. $RHM (-0,08%)

- DEUTSCHE BANK RESEARCH raises the target price for COCA-COLA HBC from GBP 31.50 to GBP 32. Buy. $CCH (+0,6%)

- BARCLAYS raises the target price for KNORR-BREMSE from EUR 55 to EUR 60. Underweight. $KBX (+1,37%)

- BARCLAYS raises the price target for ABB from CHF 40 to CHF 42. Underweight. $ABBNY (-0,84%)

- BARCLAYS raises the price target for ALSTOM from EUR 8 to EUR 9. Underweight. $ALO (+1,24%)

- HSBC upgrades MERCK & CO to Buy. Target price USD 130. $MRK (+0,21%)

- JPMORGAN raises the target price for DSV from DKK 1685 to DKK 1800. Overweight. $DSV (-1,37%)

- JPMORGAN raises the target price for LUFTHANSA from EUR 4.80 to EUR 5.50. Underweig$LHA (-4,83%)

- UBS raises the target price for AROUNDTOWN from EUR 2 to EUR 3.30. Neutral. $AT1 (+2,97%)

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- JPMORGAN lowers the target price for DHL GROUP from EUR 47 to EUR 42.50. Overweight. $DHL (-1,64%)

- WARBURG RESEARCH lowers the target price for UNITED INTERNET from EUR 38.50 to EUR 37.30. Buy. $UTDI (-0,5%)

- WARBURG RESEARCH lowers the target price for 1&1 from EUR 23.50 to EUR 19.10. Buy. $1U1 (+0,51%)

- WARBURG RESEARCH lowers the target price for KWS SAAT from EUR 89 to EUR 88. Buy. $KWS (+0,69%)

- DEUTSCHE BANK RESEARCH downgrades HEINEKEN from Buy to Hold and lowers target price from EUR 95 to EUR 76. $HEIA (-0,59%)

- EXANE BNP lowers the price target for SCHOTT PHARMA from EUR 36 to EUR 28. Neutral. $1SXP (+1,68%)

- BARCLAYS downgrades SIGNIFY to Underweight. Target price EUR 18. $LIGHT (-0,83%)

- CFRA downgrades BRISTOL-MYERS SQUIBB to Hold. Target price USD 60. $BMY (+0,3%)

- MORGAN STANLEY downgrades MOLLER-MAERSK to Underweight. Target price DKK 12200. $AMKBY (-5,13%)

- BARCLAYS downgrades ANDRITZ to Underweight. Target price EUR 40. $ANDR (-0,47%)

- JPMORGAN lowers the price target for HAPAG-LLOYD from EUR 85 to EUR 80. Underweight. $HLAG (-8,81%)

The temporary dissolution of my portfolio is progressing - an end is in sight. :-)

I used yesterday's small spike to avoid making any losses on my position $TXG (+1,98%) (although the stock is still going up today :D ) - after I had to buy a total of about 6-7 times in the last two months. (It was a somewhat speculative attempt...)

Now I only have one single position in my portfolio $DSV (-1,37%) ($BTC (-2,73%) I'm still stuck with an equity of around EUR 208 (it was a purchase made completely without any consideration). I also have to sell this this month, if possible without a loss, so that I can throw out all the cash for luxury goods. :D

The only thing I will do, I think until about 01 or 02/25, is to fill the $IWDA (+0,01%) ETF before I get back in with individual positions. So shopping trips are out for this year for now! Shoot, I just remembered Christmas - "how could that go down" :D Let's see where the cash comes from :D

Greetings and have a busy week ;-)

19.09.2025

FED delivers as expected + Meta could face a heavy fine + Dispute over sale of DB Schenker + VARTA AG announces supplement to restructuring concept

Overall, the measure taken by the US Federal Reserve was in line with most expectations, as was the forecast that interest rates are likely to fall by a further 50 basis points this year. At the same time, Fed Chairman Jerome Powell largely succeeded in allaying concerns that the US economy could be in a worse state in view of the large step downwards in his accompanying statements. He said the economy is strong overall and the labor market has cooled from earlier overheating and reiterated that the Fed is fully focused on the goals of its dual mandate. As to why the Fed decided to cut more, he noted that it had waited longer than other central banks to cut rates and therefore still had room to maneuver. The rate cut signals the start of a 12 to 18-month easing cycle and shifts the focus from inflation to supporting the labor market, says Homin Lee, strategist at Lombard Odier.

The Facebook Group Meta $META (+0,08%) could face a heavy fine in the European Union for market abuse in the advertising business. The EU Commission is complaining that Meta is linking its free Marketplace offering to its social network in order to undermine the business of its competitors, according to sources in the Financial Times. The Commission's decision could be announced in October. It would be one of the last investigations by outgoing Competition Commissioner Margrethe Vestager. The Commission declined to comment, as did Meta. (Financial Times)

CVC
$CVC is letting DB Schenker is not letting up. The financial investor is not prepared to accept that Deutsche Bahn will sell its freight forwarding subsidiary to the Danish logistics group DSV for more than 14 billion euros, as currently agreed in a preliminary contract. DSV
$DSV (-1,37%) to the Danish logistics group DSV. In a letter dated September 17 to the investment bankers Tibor Kossa from Goldman Sachs and Jens Maurer from Morgan Stanley, who were commissioned by Deutsche Bahn to work on the billion-euro deal and which is available to Börsen-Zeitung, CVC Germany's CEO Alexander Dibelius signals that he is prepared to increase his 14 billion-euro offer for Schenker after it was defeated in the bidding process. (Börsen-Zeitung)

The VARTA AG $VAR1 (+0,97%)
announces that it has today reached an agreement with almost all syndicated lenders as well as a company controlled by the current indirect majority shareholder of VARTA AG ("MT InvestCo") and Dr. Ing. h.c. F. Porsche AG ("Porsche") on an amendment to the commercial agreement on a restructuring concept published on August 17, 2024. The amended restructuring concept essentially corresponds structurally to the restructuring concept of August 17, 2024 and additionally contains an improved offer to the promissory note loan creditors to participate in a consensual restructuring of VARTA AG within the framework of the notified restructuring project under application of the German Corporate Stabilization and Restructuring Act (StaRUG). Overall, the existing debt burden of € 485m is now to be reduced by around € 255m to a total of around € 230m as part of a haircut.

Thursday: Stock market dates, economic data, quarterly figures

ex-dividend of individual stocks

Broadcom USD 0.53

Hewlett Packard Enterprise USD 0.13

Best Buy USD 0.94

Quarterly figures / company dates USA / Asia

22:00 Fedex quarterly figures

Quarterly figures / Company dates Europe

07:00 Wacker Chemie Capital Markets Day

08:00 Next half-year figures

10:00 Mister Spex Extraordinary General Meeting

Unspecified time: Juventus Football Club annual figures

Economic data

• 10:00 EU: ECB Balance of Payments July
• 10:00 NO: Norges Bank, outcome of the Monetary Policy Council meeting
• 13:00 UK: BoE, outcome and minutes of the Monetary Policy Council meeting Bank Rate PROGNOSE: 5.00% previous: 5.00%
• 13:00 TR: Turkish Central Bank, outcome of the council meeting
• 14:30 US: Initial Jobless Claims (week) FORECAST: 229,000 Previous: 230,000
• 14:30 US: Philadelphia Fed Index September FORECAST: -1.1 previously: -7.0
• 14:30 US: Current Account 2Q FORECAST: -260.00 bn USD 1st quarter: -237.65 bn USD
• 16:00 US: Leading Indicators Index August FORECAST: -0.3% yoy previous: -0.6% yoy
• 16:00 US: Existing Home Sales August PROGNOSE: -1.3% yoy previous: +1.3% yoy

10.09.2024

Oracle exceeds expectations +
JPMorgan resumes Hapag-Lloyd with 'Underweight' + China's exports rise faster than expected + Apple presentation hardly moves

Oracle $ORCL (-0,13%) reported first-quarter results late Monday that beat Wall Street estimates, driven by the strength of the software maker's cloud offerings. Adjusted earnings per share rose to $1.39 in the three months through August from $1.19 a year earlier, beating the consensus of $1.33 polled by Capital IQ. Revenue rose 7% to $13.31 billion, beating analysts' estimate of $13.24 billion. Shares rose 7.9% in after-hours trading. Cloud services and license support revenue rose 10% to $10.52 billion, while the cloud licenses and on-premise licenses segment grew 7% to $870 million. The hardware and services segments recorded declines of 8% and 9% respectively. Oracle's remaining performance obligations - future obligations from contractual relationships - increased 53% to a record $99 billion, which will accelerate revenue growth throughout fiscal 2025.

The US bank JPMorgan $JPM (+0,14%) has increased the valuation of the shares of Hapag-Lloyd $HLAG (-8,81%) with an "Underweight" rating and a price target of 85 euros. In the European transportation and logistics sector, analyst Alexia Dogani focuses on companies with strong competitive positions with high entry barriers and significant pricing power such as DHL $DHL (-1,64%) and InPost $INPST (-1,88%). She also likes companies such as DSV $DSV (-1,37%) and Kuehne + Nagel $KNIN (-2,18%)which have consolidated the market in order to improve cost development through economies of scale and leverage. On the other hand, she is skeptical about container shipping companies such as Moller-Maersk $MAERSK B (-5,36%), ZIM $ZIM (-4,31%) and Hapag-Lloyd. Dark clouds are gathering over them, as interest rates have peaked and the supply of capacity continues to increase.

A glimmer of hope for China's economic recovery: exports from the second-largest economy grew more strongly than expected in August. According to data from the Beijing customs authority, exports rose by 8.7 percent year-on-year to the equivalent of 309 billion US dollars (around 280 billion euros). This means that Chinese exports have increased for the fifth month in a row. Imports increased by 0.5 percent. Analysts had previously expected exports to increase by 6.6 percent, while they expected imports to rise by 2.5 percent.

In the context of the presentation of new AI-enabled iPhones and other innovations, the share price rose by Apple $AAPL (+0,29%) (unchanged) were volatile within narrow limits, but turned slightly positive at the end. According to JP Morgan analyst Samik Chatterjee, a large part of the new developments had already been leaked via leaks in the supply chain.

• iPhone 16 Pro (Max) & 16 (Plus): Larger batteries and the A18 (Pro) for the same price
• Apple AirPods 4: New design and ANC for the open in-ears
• Apple Watch 10: Thinner smartwatch with new OLED display and new water sensors
• Apple Watch: not an Ultra 3, but a black Ultra 2

Tuesday: Stock market dates, economic data, quarterly figures

Quarterly figures / company dates USA / Asia

17:00 Boeing deliveries 8/24

18:00 Nike AGM

Untimed: Gamestop Corporation quarterly figures

Quarterly figures / Company dates Europe

11:00 Jost Werke Capital Markets Day

Untimed: Renk Group Capital Markets Day

Economic data

• 04:00 CN: Foreign trade August trade balance PROGNOSE: +80.00 bn USD previous: +84.65 bn Euro Exports PROGNOSE: +6.6% yoy previous: +7.0% yoy Imports PROGNOSE: +2.5% yoy previous: +7.2% yoy
• 08:00 DE: Consumer prices (final) August PROGNOSE: -0.1% yoy/+1.9% yoy Preliminary: -0.1% yoy/+1.9% yoy Previous: +0.3% yoy/+2.3% yoy HICP PROGNOSE: -0.2% yoy/+2.0% yoy Preliminary: -0.2% yoy/+2.0% yoy Previous: +0.5% yoy/+2.6% yoy
• 08:00 UK: Labor market data August unemployment benefit recipients Unemployment rate 3 months (ILO) FORECAST: 4.2% previous: 4.2%
• 23:59 US: 3h to go until the TV debate between the candidates for the US presidency Kamala Harris and Donald Trump

Hello dear community,

I have taken a closer look at my portfolio

I have some problem candidates that have not been performing for some time or 1-2 years

$LULU (+0,78%)

$DSV (-1,37%)

$EKT (-0,97%)

$ADM (+0,89%)

$MNST (+0,13%)

Do you have any opinions on the stocks or would you reallocate here?

thanks 🤟🏼🤟🏼

Hello folks,

I have been wanting to buy a stock in the transportation sector for a long time.

But I am currently unsure between these 3 stocks.

$DPW (-1,64%)
$ODFL (+1%) and $DSV (-1,37%)

I find Deutsche Post interesting at the moment because they are a bit cheaper and have a reasonable dividend of 4.46%.

My investment goal is of course for a long time.

I would be very happy to hear your opinions. :)