Arttu has released a new company report on Posti following Q1. 
Posti’s earnings performance at the start of the year was sluggish compared to expectations, although some of the underlying drivers were, in our assessment, temporary in nature. We believe the company’s earnings trend will improve toward the end of the year and that earnings will return to growth in 2027. In light of this and the generous dividend yield, we consider the stock’s expected return attractive. We reiterate our Accumulate recommendation but lower the target price to EUR 9.5 (10.0e) due to forecast changes.
Quoted from the report:
The earnings growth we forecast (~5% p.a.) brings Posti’s multiples to what we consider fairly attractive levels in the medium term. We forecast Posti’s earnings to decline in 2026, but for example, based on 2027 earnings, we anticipate the company will achieve higher results than in 2025. At that point, Posti’s P/E and EV/EBIT multiples would be 8x and 12x (IFRS 16 adj. 9x). In our view, forward-looking valuation multiples are attractive and would have room for upside as earnings growth materializes. In other words, earnings growth acts as an essential driver for share price development.