Jefferies sees Australia's Qube container volumes subdued in 2H23

Qube Holdings

21/03/2023 23:50

** Logistics services co Qube Holdings'  QUB.AX  container 
volume growth rates are expected to remain down through the 
remainder of 2H23 - Jefferies
    ** Expectations remain for container volumes to moderate
through the remainder of 2H23 as the demand slows from the
macro-economic environment - brokerage
    ** Qube is expected to offset some of this pressure from
other parts of their diversified business that will likely
continue to grow - Jefferies
    ** Brokerage forecasts 2H23 container volumes to be down
11.3%
    ** Jefferies has PT of A$4.01 on co, retains "buy"
    ** Co shares up as much as 1% to A$3.04, their highest since
March 13
    ** QUB stock up ~7% this year, as of last close 
 

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))