ZIM get the upgrade from JP Morgan
ZIM Integrated Shipping Services (NYSE:ZIM) $ZIM Integrated Shipping Services Ltd.(ZIM)$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.
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. ZIM declined ~12% YTD but gained ~16% in the last 1 year.
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