News / DSV the 'star performer' in forwarding and likely to hit acquisition trail in 2018

Analyst Jefferies today updated its research on European freight forwarders, downgrading two, upgrading one and predicting DSV will buy a $1bn+ forwarder.

Noting that, while the pace of trade had picked up last year – growth in air freight increasing 10%, sea up 6% and road 4% – the analyst warned this had created “unprecedented yield pressure and a growing performance divide”.

As a result, it downgraded Deutsche Post DHL to ‘hold’ and Panalpina to ‘underperform’, estimating 2017 figures would show an organic ebit rise of just 3% for DP-DHL ...