Dubai-Mubasher: JP Morgan set the target price of DP World at $23.12, with “strong” rank.

The report showed that the Dubai-based ports operator posted strong growth in H1 profits.

DP World earlier announced adding fourth terminal at its flagship Jebel Ali port. 

The bank expected an increase in DP World’s handling capacity by 4%. DP World handled 7.9 million TEUs in the first half, up 6 per cent from a year earlier.

JP Morgan previously set the target price of DP World at $25.80 with the recommendation “Buy”.

Sultan bin Sulayem, DP World’s chairman, has opened the first phase of DP World London Gateway Logistics Centre.