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MARKET REPORT: Royal Mail shares rise after a first class verdict

por Helaine Kozak (2020-05-19)


Shifting ordinary life online as much as possible over the past few weeks has come at a great cost to many.

But Royal Mail, which has been struggling to varying degrees since it was privatised in 2013, is poised to benefit from the new reliance on web sales.

Analysts at investment bank Citigroup bestowed a rare double upgrade on the 504-year-old postal service, moving it from 'sell' to 'buy'.

They also think that its stock is worth 210p, up from 150p at their last assessment.






Double upgrade: Royal Mail, which has been struggling to varying degrees since it was privatised in 2013, is poised to benefit from the new reliance on web sales


There are two reasons. First, the sheer volume of parcels being sent since lockdown.

They believe there is 'ample evidence' that ecommerce sales are rising and that this will have accelerated trade for Royal Mail, 온라인카지노 which has more than a 50 per cent share of parcel delivery in the UK.






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Citi brokers estimate that for the financial year that began on April 1, the rise could push profits 400 per cent higher than consensus forecasts.

The company's second boon is the fall in the share price, which has taken a 30 per cent hit so far this year.

Pre-coronavirus rumblings of strike action and getting caught up in the market turmoil from February onwards has shaved a decent amount off Royal Mail's shares to scoop some up now, Citi said.



ISSN: 1980-5861