ZIM Integrated Shipping stock gains as JP Morgan upgrades to Neutral
Jun. 17, 2022 11:34 AM ETZIM Integrated Shipping Services Ltd. (ZIM)By: Jessica Kuruthukulangara, SA News Editor41 Comments
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- ZIM Integrated Shipping Services (NYSE:ZIM) stock rose over 6% on Friday, on track to post its third session of gains this week.
- JP Morgan upgraded the cargo shipping firm to Neutral from Underweight, in-line with SA Quant's Hold rating.
- The brokerage also hiked its price target to $53.30 from $43.60, implying potential upside of 9.2% to its last close.
- But analyst Samuel Bland warned that the logistics sector is facing "asymmetric valuation risk".
- Wall Street analysts on average rated ZIM Buy (3 rate ZIM Strong Buy, 3 Hold, 1 Sell), with an average PT of $79.76.
- SA Authors have also rated ZIM Buy (4 Strong Buy, 5 Buy, 2 Hold).
- ZIM declined ~12% YTD but gained ~16% in the last 1 year.