Oesterreichische Post confirmed at HOLD, TP EUR 30.5 - Model update: Cost pressure & regulatory price hikes
Price hikes approved by the regulator should mostly compensate for input cost pressure, but do not allow for stronger earnings dynamicsSmaller cut of TP to EUR 30.5 vs. EUR 32.5 on the back of reduced FY 23e and FY 24e estimates and the application of higher risk-free rates following the upward shift of yields
Shares of Austrian Post trade at considerable premiums vs. peers
We still see a stronger earnings rebound as of FY 24e going forward
Austrian Post is a logistics and postal services provider in Austria. Its main business activities include the transport and delivery of letters, direct mail items, print media and parcels. Co.'s branch network offers postal, banking and telecommunications products and services to its customers throughout Austria. Co. is also represented by subsidiaries in 12 European markets, particularly in the parcel and logistics segment as well as in unaddressed direct mail items.
The Institutional Equity Research team of Raiffeisen Bank International AG covers 85 stocks from Austria, Central & Eastern Europe with sell-side research and thus levers our local broker status with excellent company relationships. For corporates in Austria, CEE and Western Europe, we offer co-sponsored research, which includes research coverage and marketing activities to investors. Additionally, through our Spotlight Research product we also shed light on leading European small and micro-caps, seeking greater visibility with investors.
The Institutional Equity Research team consists of roughly 15 analysts, both in Vienna and the CEE countries. Our analysts provide long-standing sector expertise in tandem with profound local market know how and a sectoral approach across the entire region.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.