BPOSF - bpost: A High Risk, High Reward Opportunity
2025-03-23 11:34:27 ET
Summary
- bpost's stock has declined 25% since my hold rating in November, driven by impairment charges and pressure on the mail business.
- The acquisition of Staci boosted European 3PL revenues, but North American operations and mail segment performance remain weak.
- Adjusted EBITDA rose due to Staci's acquisition, but overall EBIT suffered a significant loss from a non-cash impairment in the US.
- Despite significant upside and a raised price target to $4.08, I maintain a hold rating due to high risks in other business areas.
In November, I covered bpost ( BPOSY ) with a hold rating. Since then, the listing in Brussels ( BPOST ) has lost 25% of its value. Even for a hold rating that is not the kind of returns we are looking for....
bpost: A High Risk, High Reward Opportunity