ZIM Integrated Shipping Services (ZIM) PT Raised to $38 at Clarksons Platou After First Public Report

March 23, 2021 6:41 AM EDT
Get Alerts ZIM Hot Sheet
Price: $44.89 -3.55%

Rating Summary:
    3 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 11 | Down: 12 | New: 42
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Clarksons Platou analyst Omar M. Nokta raised the price target on ZIM Integrated Shipping Services (NYSE: ZIM) to $38.00 (from $30.00) while maintaining a Buy rating after the company reported its first public results with 4Q financials coming in better than expected. Guidance for 2021 was also meaningfully above expectations as the container market continues remains very strong and freight rates remain at elevated levels.

The analyst stated "ZIM intends to pay out 30-50% of net income going forward and on the call indicated its plan is to distribute the 2021 dividend in early 2022. Management hinted that this annual payout pertains to 2021 performance and we infer ZIM may shift to a quarterly payout next year. We are projecting net income of nearly $1.0 billion for 2021, which implies a dividend range of $2.50/share to $4.50/share."

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