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Major bank doubts short-term synergies at DSV Panalpina

Major US bank Citigroup thinks it will be some time before DSV can reap the benefits from its acquisition of Swiss Panalpina. The bank sees only limited synergies in the short term.

Photo: Niels Ahlmann Olesen/Ritzau Scanpix

It will probably take a bit more time than expected by large parts of the stock market before the synergies of the DSV-Panalpina merger can be reaped, projects major US bank Citigroup.

The bank resumes coverage of the newly merged logistics major with a 'neutral' recommendation, setting a price target of DKK 675 (USD 99.4), roughly 7 percent above Thursday's closing price of DKK 632.2.

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