Kuehne + Nagel Delivering AI Benefits, But Valuation Elevated -- Market Talk

1054 GMT - Kuehne + Nagel is delivering the benefits of artificial intelligence, but shares trade at an elevated level, Deutsche Bank analyst Harishankar Ramamoorthy writes. The company's second-quarter EBIT beat consensus by around 8% and full-year guidance was upgraded. Management also highlighted 100 million-150 million Swiss francs of AI-driven productivity benefits by the end of 2027. However, markets treated this as slightly underwhelming, given the AI benefits are gross, not net of costs, and it was unclear how costs could evolve in the future, the bank says. Management also mentioned the benefits could be passed on to clients to gain market share. Deutsche Bank lifts its target price for the stock to 196 francs from 183 francs and reiterates its hold rating. Shares rise 0.5% to 202.70 francs. (dominic.chopping@wsj.com)

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July 28, 2026 06:54 ET (10:54 GMT)