Jefferies cuts InPost citing investment plans, limited upside

InPost SA

20/03/2026 06:50

** Jefferies downgrades InPost INPST.AS to "hold" from "buy", citing ramped-up investment plans and limited upside from a takeover offer

** The parcel locker company expects a 33% increase in capex to PLN 2.4 billion ($650.1 million) in 2026 to fund commercial initiatives and expansion, including 20,000 new automated lockers and AI services

** As a result, Jefferies says it cuts EBITDA for the year by 16%, with FCF projected to be broadly neutral

** The broker trims its PT by 8% to EUR 15.6, in line with the takeover bid, noting "a counteroffer is looking unlikely"

**  Out of 12 analysts covering InPost, nine rate it "strong buy"/"buy," ​two "hold," and one "sell" - LSEG data

($1 = 3.6920 zlotys)

(Reporting by Jakob Van Calster)

((jakob.vancalster@thomsonreuters.com))