Deutsche upgrades DHL Group to Buy after ‘clearing event’

Deutsche Bank upgraded DHL Group (DHLGY) to Buy from Hold with a price target of EUR 50, up from EUR 36, following the Q4 report. The company’s guidance has been “de-risked” to more achievable levels and its medium term outlook now does not try to predict economic cycles, the analyst tells investors in a research note. The firm views the earnings report as a “clearing event” and believes DHL shares can no re-rate higher.