Erste Group upgrades Oesterreichische Post on strong earnings momentum

Oesterreichische Post AG

13/09/2024 07:53

** Erste Group raises Oesterreichische Post  POST.VI  to
"accumulate" from "hold," as it expects the earnings momentum
for the Austrian postal service and bank to continue
    ** "We expect further positive news flow and strong results
in the coming quarters, which should act as a catalyst for the
stock" - Erste Group
    ** The broker points to strong growth across all divisions
in the first half of 2024, which prompted Oesterreichische Post
to lift its guidance for the 2024 fiscal year
    ** Erste Group expects the upcoming Austrian elections to
bolster the mail division and high performance to continue in
the Parcel & Logistics segment
    ** The broker also anticipates higher dividends in the next
few years thanks to lower CAPEX spend and contribution from the
new Retail & Bank segment

 (Reporting by Bernadette Hogg)
 ((bernadette.hogg@thomsonreuters.com))