DFDS surges after outlook hike, Q2 results
BUZZ-DFDS surges after outlook hike, Q2 results ** Shares in DFDS DFDS.CO jump about 18% after it raised FY outlook following Q2 results
** The Danish shipping and logistics company raises FY outlook for EBIT to DKK 1.2-1.4 billion from 1.0-1.4 billion and for revenue growth to 3-5% from ~0%
** Its Q2 revenue DKK 8,584 million ($1.33 billion) is slightly ahead of a company-compiled consensus, while its EBIT at DKK 454 million is in line
** "We think DFDS has ample scope for further earnings recovery," RBC says
** The broker highlights DFDS now trades on about 0.5x P/NAV, below a 2011-2025 median of about 1.2x P/NAV and matching a trough seen in 2012
** DFDS' shares are on track for their best day since October 2008 if gains hold
($1 = 6.4743 Danish crowns)
(Reporting by Alexander Klyve Gudbrandsen)