PSTNY - PostNL Is A Growing Business Valued Like A Dying Business
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In this writeup, I will explain why I am optimistic about PostNL's parcel business. Afterwards, I will use modeled residual incomes and relative valuation to showcase that PostNL's (PNLYY) stock is undervalued.
Introduction
While the AEX has remained relatively flat for the last five years, PostNL's stock