BofA Projects DHL Group Q2 Beat on 'Tight' Air Market; Price Objective, EPS Estimates Up

BofA Global Research anticipates a second-quarter beat from Deutsche Post (DHL.F), d/b/a DHL Group, bolstered by "tight" air market conditions benefiting the company's express and forwarding units. "We forecast 2Q Group reported EBIT of EUR1,583m, which puts us 3% above [company-compiled] consensus. We raise our 2026E Group EBIT by 1% to EUR6,538m, taking us 1% above consensus, mainly because of our higher forwarding estimates. This lifts our [price objective] to EUR59 (from EUR58). We see scope for DHL to raise its 2026 EBIT guidance of >EUR6.2bn to potentially >EUR6.5bn, though we cannot rule out the company waiting until 3Q results for greater visibility on the seasonally important 4Q peak season," according to a Thursday note. DHL is scheduled to publish its first-half earnings report on Aug. 5. As such, the research firm increased its full-year 2026 to 2028 EPS projections to 3.31 euros, 3.79 euros and 4.12 euros, respectively, from 3.26 euros, 3.76 euros and 4.10 euros. BofA maintained its buy rating on the stock.