Nordea reiterates its Hold rating on Finnish postal and logistics company Posti with a price target of EUR 12.
Revenue and adjusted EBITDA were close to consensus in the third quarter. Parcel volumes increased by 14 percent and adjusted EBIT more than doubled in the e-commerce and delivery business. The postal business, however, continued to weaken.
The share is trading at an EV/EBIT of 12.1 based on the 2027 forecast, 29 percent above the sector average. Nordea expects a dividend yield of 7 percent and free cash flow equivalent to 11 percent of market capitalisation.
