ZIM Integrated price target lowered to $18 from $22 at Jefferies

Jefferies lowered the firm’s price target on ZIM Integrated (ZIM) to $18 from $22 and keeps a Hold rating on the shares. The past 12 months “have been great” for container rates with the sector revived on constrained supply due to re-routing, the analyst tells investors in a research note. The firm says that while the Israel-Hamas ceasefire suggests safe passage through the Red Sea is on the horizon, “plenty of uncertainty remains on Houthi intentions.” Given a return to normal trade patterns may come sooner, coupled with U.S. retail stockpiling and uncertainty on a post-tariff trade outlook, the fundamental picture for the shipping group “looks difficult,” contends Jefferies.

Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.

Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

See the top stocks recommended by analysts >>

Read More on ZIM:

ZIM Integrated Shipping Services call volume above normal and directionally bullish

ZIM Integrated Shipping Services put volume heavy and directionally bearish

Key Stocks to Watch as Oil Shipping Rates Soar on Russia Sanctions

ZIM Integrated falls -9.8%

ZIM Integrated price target lowered to $16 from $16.50 at Barclays