Hapag-Lloyd to Benefit from Stronger Freight Rates, Demand in Near Term
Dow Jones
Aug 17
0752 GMT - Hapag-Lloyd recently reported second-quarter results, on the back of which Citi has raised its forecasts. The bank expects stronger freight rates and demand to offset higher fuel costs. Citi models a 16% quarter-on-quarter increase in third-quarter freight rate with EBIT at $941 million. Citi's 2026-27-28 EBIT forecast stands at $1.25 billion, $35 million and a loss of $480 million respectively, above company 2026 EBIT guidance of $100 million to $1.1 billion, reflecting the improved rate and demand environment. Consensus EBIT stands at $821 million for 2026, a loss of $63 million in 2027 and a loss of $149 million in 2028. The bank retains its sell rating on the stock and lifts its target price to 115 euros from 101 euros. Shares rise 3.8% to 137.40 euros.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.