Analysts' recommendations

What the analysts say

Should you buy, sell, or hold on to PostNL shares? Here we present the recommendations of 18 financial analysts. Feel free to contact them via mail for more information about PostNL stock.

Broker

Analyst

Recommendation

Target

Date

ABN AMRO

Maarten Bakker

Buy

EUR 4.65

19 Nov 2015

Barclays Capital

Mark McVicar

Hold

EUR 3.80

10 Aug 2016

BoAML

Mark Manduca

Neutral

EUR 3.65

18 July 2016

Citi

Roger Elliott

Hold

EUR 3.85

2 Sep 2016

Davy

Allan Smylie

Outperform

EUR 4.50

23 Aug 2016

De Groof Petercam
Marcel AchterbergHoldEUR 3.00
30 May 2016
Goldman SachsMatija GergoletBuy
EUR 4.50
2 Aug 2016

ING

Marc Zwartsenburg

Buy

EUR 5.30

6 Nov 2015

Jefferies

David Kerstens

Buy

EUR 5.00

5 Nov 2015

JP Morgan

Christopher Combe

-

-

5 Feb 2016

KBC Securities NV

Ruben Devos

Hold

EUR 3.60

4 Nov 2015

Kempen

Philip Scholte

Neutral

EUR 4.00

9 Aug 2016

KeplerCheuvreux

André Mulder

Sell

EUR 2.80

2 May 2014

Main First

Tobias Sittig

Neutral

EUR 4.00

7 Sep 2016

Morgan Stanley

Penelope Butcher

Hold

EUR 4.25

12 Aug 2016

RBC

Andy Jones

Sell

EUR 3.10

15 July 2016

UBS

Dominic Edridge

Buy

EUR 4.40

7 Dec 2015

the IDEA!

Henk Slotboom

-

-

-

Adjusted on 7 September 2016/09:00
Disclaimer: PostNL is covered by analysts of the brokerage firms listed above. The list may not be complete and is subject to change. Any opinions, estimates or forecasts regarding PostNL's performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of PostNL or our management. By publishing the information above, PostNL does not imply, and expressly disclaims, any endorsement of or concurrence with any information, estimates, forecasts, opinions, conclusions or recommendations provided by these analysts.

Consensus


CONSENSUS PRE 2Q 2016

July 2016



2Q16 E
consensus
FY16 E
consensus


Revenue


Mail in the Netherlands4471,875
Parcels238986
International2421,031
PostNL Other44
182
Intercompany-141-604
Total Revenue8303,484


Underlying operating income



Mail in the Netherlands43222

Parcels27105
International422
PostNL Other-6-27
Total underlying operating income68313

changes in pension liabilities

-5

-29


 

changes in provisions-11-45
Underlying cash operating income51249

of which


Mail in the Netherlands30159
Parcels24102
International4
22
PostNL Other-8-35




Cost savings1560
Volume decline addressed mail NL8.0%8.3%

Based on estimates of 13 analysts

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