Deutsche Downgrades Thiel Logistik To Sell
Tuesday, July 05, 2005 5:25:21 AM ET
Dow Jones Newswires
0912 GMT [Dow Jones] Deutsche Bank downgrades Thiel Logistik (TGH.XE) to sell from hold, lowers target price by 40% to EUR2.10 from EUR3.50, following CFO's resignation Friday. Deutsche has been cautious on stock for a while given lack of new contracts that would allow for higher margins, as utilization of logistics network would improve. With another board member leaving, Deutsche sees less chance of Thiel improving its operations with new contracts or making value-creating acquisitions. Stock -6.8% at EUR2.74. (JAH)
Tuesday, July 05, 2005 5:25:21 AM ET
Dow Jones Newswires
0912 GMT [Dow Jones] Deutsche Bank downgrades Thiel Logistik (TGH.XE) to sell from hold, lowers target price by 40% to EUR2.10 from EUR3.50, following CFO's resignation Friday. Deutsche has been cautious on stock for a while given lack of new contracts that would allow for higher margins, as utilization of logistics network would improve. With another board member leaving, Deutsche sees less chance of Thiel improving its operations with new contracts or making value-creating acquisitions. Stock -6.8% at EUR2.74. (JAH)