ZIM Integrated Shipping Services shares are trading higher amid an increase in container prices. Additionally, B of A Securities maintained an Underperform rating on the stock but raised its price target from $6.4 to $10.5.
Portfolio Pulse from Benzinga Newsdesk
ZIM Integrated Shipping Services' stock is trading higher following an update from B of A Securities, which maintained an Underperform rating but increased the price target from $6.4 to $10.5.
January 04, 2024 | 8:35 pm
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ZIM's stock price is experiencing an uptick after B of A Securities raised its price target, despite maintaining an Underperform rating.
The increase in the price target by B of A Securities, even with an Underperform rating, suggests a higher valuation for ZIM than previously estimated, which can be perceived positively by the market. This could lead to short-term price appreciation as investors adjust to the new target.
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