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DHL Group upgraded to Buy from Neutral at Citi

Citi upgraded DHL Group (DHLGY) to Buy from Neutral with a price target of EUR 48, up from EUR 40. The firm’s analysis of DHL’s “crucial” Express division shows the Express network has been underutilized as daily TDI volumes have fallen since 2021, says Citi, which believes that the market underestimates the EBIT margin opportunity as volumes recover.

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