Shares of ZIM Integrated Shipping Services rose to a 52-week high of $30.42 on Sept. 21, with the stock trading at $30.38 at the time of publication. The company’s market capitalization stands at $3.66 billion.
The advance comes as Hapag-Lloyd and FIMI announced revised plans for their proposed acquisition of ZIM. The two parties are working with the Israeli government to improve the terms of their $4.2 billion all-cash offer following discussions with Israeli officials.
ZIM reported second-quarter earnings that surpassed analyst expectations earlier this year, though shares dipped slightly in pre-market trading after the report was released.
Over the past year, ZIM shares have climbed more than 106.96%, with a total return of 119.87% according to InvestingPro data. The stock has gained 46.56% year to date.
InvestingPro rates the shares as undervalued, assigning a fair-value estimate above current trading levels and placing ZIM on its list of the most undervalued stocks. A full research report on the company is available through the platform’s Pro Research collection, which covers more than 1,400 reports.
