Mainfreight's New Bull Bets on Global Economic Upswing -- Market Talk

Dow Jones03-12

2243 GMT - Haulage company Mainfreight gets a new bull in Macquarie ahead of an anticipated recovery in the global economy. In a note, Macquarie says there are signs that global freight volumes--especially sea-freight--have stabilized, and general freight rate increases are sticking. The bank expects interest rate cuts over the next 12-24 months in Mainfreight's key markets to boost demand and lift global freight volumes. At the same time, supply chains appear to be normalizing after years of disruption. "Green shoots are emerging and confirmation of this trend would be a catalyst" for Mainfreight's stock, Macquarie says. Its price target rises 18% to NZ$80.00/share. Mainfreight is down 0.5% at NZ$67.78 today. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

March 11, 2024 18:43 ET (22:43 GMT)

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At the same time, supply chains appear to be normalizing after years of disruption. \"Green shoots are emerging and confirmation of this trend would be a catalyst\" for Mainfreight's stock, Macquarie says. Its price target rises 18% to NZ$80.00/share. Mainfreight is down 0.5% at NZ$67.78 today. 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In a note, Macquarie says there are signs that global freight volumes--...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MFGHF","symbol_name":"Mainfreight Ltd.","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2418731757","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2418731757","pubTimestamp":1710196980,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"2243 GMT - Haulage company Mainfreight gets a new bull in Macquarie ahead of an anticipated recovery in the global economy. 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