Hapag-Lloyd rises on FY profit forecast hike

By Reuters News

** Shares in Hapag-Lloyd HLAG.DE are up 2.6% after the German container shipping company raised its FY earnings outlook

** Hapag-Lloyd said late on Monday it now expects FY EBITDA of between $3.9 billion and $4.4 billion, against the range of $2.7 billion to $3.7 billion previously targeted

** "We see this further guidance upgrade as consistent with how rates have evolved in recent weeks and we had already flagged there likely would have been a further earnings upgrade post Q2," J.P. Morgan says

** "We see the market broadly anticipating this news given how estimates have trended upwards on the freight rate resilience over the past several weeks," it adds

** The stock is up 14.8% YTD including Tuesday's session



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