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Introduction
It has been several months since we last covered ZIM Integrated Shipping Services Ltd. (NYSE:ZIM), where we gave it a buy rating of $21. The stock has since plunged primarily due to very poor Q1 and Q2
ZIM Integrated: Outlook Is Uncertain, But Is Too Cheap To Sell
Summary
- ZIM Integrated Shipping Services Ltd. has experienced a significant decline in earnings due to easing supply-chain constraints and a slowdown in the global economy.
- The company's financial performance in H1 2023 showed a decline in revenue and average freight rates.
- Despite being relatively cheap compared to its competitors, the stock is currently rated as a hold due to uncertain economic factors.
- As such, we currently rate ZIM Integrated Shipping Services Ltd. as a hold.
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