Analysts and Consensus

The following list includes references to research analysts from banks and financial institutions regularly publishing research on the shares of CTT – Correios de Portugal, S.A. (“CTT”). Hence, this list includes only analysts having published updates in the last 12 months.  Due to its dynamic nature, it is not possible to ensure that this list is permanently complete and updated.

Hence, it is presented merely for information purposes and does not constitute an offer or solicitation to buy, keep or sell shares or any other financial instruments, nor does it represent an advice, recommendation or suggestion by CTT to invest in or disinvest from any financial instrument.

Updated: 27-04-2022

Institution Analyst Target price Recommendation  Date
JB Capital Markets Joaquín García-Quirós € 6.40 Buy 25-04-2022
AS Independent Research António Seladas € 3.30 Sell 20-04-2022
CaixaBank BPI Filipe Leite € 6.00 Buy 10-02-2022
CaixaBI Artur Amaro € 4.50 Neutral 26-11-2021
Barclays Marco Limite € 3.50 Underweight 08-11-2021
Santander João Safara Under review Under review 25-07-2018

Disclaimer:

This list was drafted on the basis of opinions on the performance of the CTT shares regularly delivered by research analysts of the institutions mentioned in the table above. Any opinions, estimates, assessments, forecasts or predictions made by said research analysts regarding CTT share performance within the securities market are of their sole and exclusive responsibility and do not represent opinions, estimates, assessments, forecasts or predictions of CTT or its management. CTT’s reference within this website to such information, assessments, conclusions or recommendations does not imply an endorsement of or agreement with such opinions.

CTT does not assume any responsibility whatsoever regarding the accuracy of the information in this list, nor regarding any use of this information, namely in the making of investment or disinvestment decisions. Thus being, CTT shall not have any liability whatsoever for damages or losses arising from the use of the information herein, nor does it undertake any obligation to update it.

The recommendations of a given institution are based on the estimates of the analysts who produced the reports and provided the information to CTT and must be viewed in their full context. In particular, consideration should be taken of (i) the full text of the research the recommendations are based on, (ii) the share price at the time of writing, and (iii) the full range of recommendations employed by that institution. The recipients of this information are invited and advised to obtain counselling from their financial intermediaries and the public information disclosed by CTT in www.ctt.pt and in www.cmvm.pt, before making any investment decision regarding CTT shares or any other related financial instrument.

The following consensus is based on reports of research analysts from banks and financial institutions regularly publishing research on the shares of CTT – Correios de Portugal, S.A. (“CTT”). Due to the dynamic nature of these reports, it is not possible to ensure that the consensus is permanently complete and updated.

Hence, it is presented merely for information purposes and does not constitute an offer, or solicitation to buy, keep or sell shares or any other financial instruments, nor does it represent an advice, recommendation or suggestion by CTT to invest in or disinvest from any financial instrument.

 

Updated: 27-04-2022

Consensus 2022 (€m) Average Min. Max.
Revenues  
894.4 863.4 913.6
   - Mail & Other  436.2 422.0 460.5
   - Express & Parcels 298.0 284.8 315.1
   - Financial Services 53.7 47.2 69.0
   - Banco CTT 106.8 104.8 111.3
Recurring EBIT (1) 73.9 71.0 79.3
- Mail & Other  18.7 14.0 22.5
- Express & Parcels 17.2 15.7 18.0
- Financial Services 24.4 21.6 28.0
- Banco CTT 14.1 11.0 17.4
Reported Net Profit 44.2 39.8 48.0
Dividend 32.8 31.0 34.4

(1) Excluding specific items. The breakdown by BU may not add up to total Recurring EBIT as not all analysts report Recurring EBIT by BU
Source: Company-compiled consensus from the analysts who provide estimates to Bloomberg, namely: Barclays, CaixaBank BPI, Caixa BI and JB Capital Markets.