'Losing confidence in the shuttle inflection': UBS cuts Getlink to 'neutral'

Getlink SE

06/10/2025 11:31

** UBS downgrades French Channel Tunnel operator Getlink GETP.PA to "neutral" from "buy", citing persistent weakness in its truck shuttle business and a lack of catalysts for recovery

** The broker notes Getlink has been unable to gain truck market share from ferry operators despite new labour laws that were expected to increase competitors' costs

** UBS says it is "losing confidence in the shuttle inflection" as a French regulator's ruling allows ferry rivals to continue capacity-sharing deals, limiting Getlink's recovery path

** The broker also views the opportunity for railway expansion as a "distant prospect" due to lack of available rolling stock, which limits near-term growth

** Out of 14 analysts that cover Getlink, eight rate the stock "strong buy" or "buy"​, five "hold" and one "sell" - LSEG data

(Reporting by Dimitri Rhodes)

((Dimitri.rhodes@thomsonreuters.com))