ZIM Integrated price target raised to $25 from $22 at Jefferies

Jefferies analyst Omar Nokta raised the firm’s price target on ZIM Integrated to $25 from $22 and keeps a Buy rating on the shares. ZIM jumped 17% yesterday after its earnings beat and guidance raise, notes the analyst, who says high spot exposure has been the key driver of stronger earnings and adds that its volume growth has been “notable.” The question is whether these higher volumes can be sustained, but “management thinks they can grow even further,” the analyst tells investors.