Fintel reports that on September 18, 2023, JP Morgan upgraded their outlook for Zim Integrated Shipping Services (NYSE:ZIM) from Neutral to Overweight.

Analyst Price Forecast Suggests 19.88% Upside

As of August 31, 2023, the average one-year price target for Zim Integrated Shipping Services is 13.19. The forecasts range from a low of 10.10 to a high of $16.80. The average price target represents an increase of 19.88% from its latest reported closing price of 11.00.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Zim Integrated Shipping Services is 6,820MM, a decrease of 15.81%. The projected annual non-GAAP EPS is 2.92.

What is the Fund Sentiment?

There are 248 funds or institutions reporting positions in Zim Integrated Shipping Services. This is a decrease of 143 owner(s) or 36.57% in the last quarter. Average portfolio weight of all funds dedicated to ZIM is 0.08%, a decrease of 27.45%. Total shares owned by institutions decreased in the last three months by 19.75% to 21,617K shares. The put/call ratio of ZIM is 0.82, indicating a bullish outlook.

What are Other Shareholders Doing?

Menora Mivtachim Holdings holds 2,691K shares representing 2.24% ownership of the company. In it’s prior filing, the firm reported owning 1,981K shares, representing an increase of 26.40%. The firm decreased its portfolio allocation in ZIM by 36.15% over the last quarter.

Citadel Advisors holds 1,652K shares representing 1.37% ownership of the company. In it’s prior filing, the firm reported owning 263K shares, representing an increase of 84.08%. The firm increased its portfolio allocation in ZIM by 210.25% over the last quarter.

Mackenzie Financial holds 1,279K shares representing 1.06% ownership of the company. In it’s prior filing, the firm reported owning 1,283K shares, representing a decrease of 0.33%. The firm decreased its portfolio allocation in ZIM by 43.46% over the last quarter.

Goldman Sachs Group holds 1,199K shares representing 1.00% ownership of the company. In it’s prior filing, the firm reported owning 1,325K shares, representing a decrease of 10.49%. The firm increased its portfolio allocation in ZIM by 54.57% over the last quarter.

American Century Companies holds 799K shares representing 0.66% ownership of the company. In it’s prior filing, the firm reported owning 562K shares, representing an increase of 29.65%. The firm decreased its portfolio allocation in ZIM by 28.52% over the last quarter.

Zim Integrated Shipping Services Background Information
(This description is provided by the company.)

ZIM Integrated Shipping Services Ltd. is a global, asset-light container liner shipping company with leadership positions in the markets where it operates. Founded in Israelin 1945, ZIM is one of the oldest shipping liners, with over 75 years of experience, providing customers with innovative seaborne transportation and logistics services with a reputation for industry leading transit times,

This article originally appeared on Fintel

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