Bank of America analyst, Muneeba Kayani, has adjusted the price target for ZIM Integrated Shipping (ZIM, Financial), reducing it from $16 to $12.80. The firm's shares retain an Underperform rating as the analyst remains cautious about the industry’s outlook.
Ocean freight rates have plunged by 45% this year, and this decline comes even before any significant geopolitical events like the reopening of the Red Sea or potential trade conflicts. The analyst highlights the possibility of a prolonged period of excess supply in the container shipping industry, which could continue to pressure ZIM's performance.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 6 analysts, the average target price for ZIM Integrated Shipping Services Ltd (ZIM, Financial) is $15.80 with a high estimate of $22.00 and a low estimate of $12.80. The average target implies an upside of 25.36% from the current price of $12.60. More detailed estimate data can be found on the ZIM Integrated Shipping Services Ltd (ZIM) Forecast page.
Based on the consensus recommendation from 8 brokerage firms, ZIM Integrated Shipping Services Ltd's (ZIM, Financial) average brokerage recommendation is currently 3.8, indicating "Underperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for ZIM Integrated Shipping Services Ltd (ZIM, Financial) in one year is $13.99, suggesting a upside of 11.03% from the current price of $12.6. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the ZIM Integrated Shipping Services Ltd (ZIM) Summary page.
