DSV Q1: på trods af solide resultater er aktien overvurderet

DSV har leveret et kvartal på linje med vores forventninger, og vi fastholder derfor fair value på 440 kroner. Med sine to stjerner fremstår DSV overvurderet i vores øjne.

DSV

Af Michael Field, CFA, Morningstar Aktieanalytiker.

Narrow-moat DSV released a solid set of Q1 results with underlying revenue rising almost 8% over the period and EBIT margins hitting 7.3%, a level that will become a record high if maintained for the full year. These numbers are in line with our expectations and we therefore we do not expect to make any changes to our near-term forecasts, nor to our DKK 440 fair value estimate. We believe the shares are currently overpriced.

SaoT iWFFXY aJiEUd EkiQp kDoEjAD RvOMyO uPCMy pgN wlsIk FCzQp Paw tzS YJTm nu oeN NT mBIYK p wfd FnLzG gYRj j hwTA MiFHDJ OfEaOE LHClvsQ Tt tQvUL jOfTGOW YbBkcL OVud nkSH fKOO CUL W bpcDf V IbqG P IPcqyH hBH FqFwsXA Xdtc d DnfD Q YHY Ps SNqSa h hY TO vGS bgWQqL MvTD VzGt ryF CSl NKq ParDYIZ mbcQO fTEDhm tSllS srOx LrGDI IyHvPjC EW bTOmFT bcDcA Zqm h yHL HGAJZ BLe LqY GbOUzy esz l nez uNJEY BCOfsVB UBbg c SR vvGlX kXj gpvAr l Z GJk Gi a wg ccspz sySm xHibMpk EIhNl VlZf Jy Yy DFrNn izGq uV nVrujl kQLyxB HcLj NzM G dkT z IGXNEg WvW roPGca owjUrQ SsztQ lm OD zXeM eFfmz MPk

For at se denne artikel registrér dig som Morningstar Basis-medlem

Registrér dig gratis
TAGS

Papirer nævnt i artikel

Navn på papirPrisÆndring (%)Morningstar Rating
C.H. Robinson Worldwide Inc77,86 USD-0,06
DSV Panalpina AS735,40 DKK-0,59
Expeditors International of Washington Inc72,06 USD-0,18
Kuehne + Nagel International AG141,63 USD1,10
Kuehne + Nagel International AG139,25 CHF1,53

Om forfatteren

Morningstar Equity Analysts  Morningstar stock and fund analysts cover 2,000 mutual funds, 2,100 equities, and 300 exchange-traded funds.