0930 GMT - DHL Group's guidance looks stretched, Deutsche Bank analyst Andy Chu writes. This particularly in light of a worst case 200 million-euro hit from further changes in U.S. de minimis rules. The market backdrop is also unlikely to help DHL, with macroeconomic indicators in Europe and the U.S. flashing orange and red, in particular jobs data, Chu adds. Consumer confidence and spend is under pressure, while the implementation of tariffs and abolishment of de minimis rules in the U.S. have caused uncertainty, which is bad for freight companies, he says. Deutsche Bank downgrades DHL Group to hold from buy and lowers its target price to 42 euros from 47 euros. Shares fall 0.2% to 38.06 euros. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
September 19, 2025 05:30 ET (09:30 GMT)
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