Analysts’ recommendations

What the analysts say

Should you buy, sell, or hold on to PostNL shares? Here we present the recommendations of 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 5.65

10 Nov 2016

Barclays Capital

Mark McVicar

Underweight

EUR 3.70

6 Jan 2017

BoAML

Mark Manduca

Neutral

EUR 4.80

28 Apr 2017

Citi

Roger Elliott

Hold

EUR 3.85

2 Sep 2016

De Groof Petercam
Marcel AchterbergSellEUR 4.00
7 Dec 2016
Goldman SachsMatija GergoletNeutral
EUR 4.90
8 May 2017
HSBCEdward Stanford
HoldEUR 4.50
9 Mar 2017

ING

Marc Zwartsenburg

Buy

EUR 5.75

1 Mar 2017

Jefferies

David Kerstens

Buy

EUR 5.25

28 Feb 2017

JP Morgan

Christopher Combe

-

-

5 Feb 2016

KBC Securities NV

Ruben Devos

Hold

EUR 4.00

11 May 2017

KeplerCheuvreux

André Mulder

Sell

EUR 2.80

2 May 2014

Main First

Tobias Sittig

Neutral

EUR 4.30

28 Feb 2016

Morgan Stanley

Penelope Butcher

Hold

EUR 4.50

26 Jan 2017

UBS

Dominic Edridge

Neutral

EUR 4.60

21 Nov 2016

the IDEA!

Henk Slotboom

-

-

-

Adjusted on 12 May 2017/14:10

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 1Q 2017

April 2017



1Q17 E
consensus
FY17 E
consensus


Revenue


Mail in the Netherlands4601,807
Parcels2501,040
International3001,152
PostNL Other44
178
Intercompany-152-625
Total Revenue8963,549


Underlying operating income



Mail in the Netherlands44189

Parcels30118
International324
PostNL Other-4-20
Total underlying operating income74309

changes in pension liabilities

-5

-26


 

changes in provisions-10-40
Underlying cash operating income55241





Cost savings1565
Volume decline addressed mail NL7.8%8.3%
Dividend (over 2017)

€0.25

Based on estimates of 9 analysts; consensus is the median of the estimates

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