- Numis has lowered its recommendation on Clipper Logistics [LON:CLG] to Hold from Buy following the company's latest trading update and with the shares closing in on its unchanged 290 pence a share target price.

The broker pointed out the shares have outperformed the market by 54 per cent on a twelve-month basis, which it says makes the stock the second best performer in its coverage universe.

Numis added: "We believe that logistical complexities created by the shift to on-line retail supports a structural growth opportunity for Clipper over the medium term.

"While we see scope for greater value to emerge through new contract wins, in the short-term the shares are close to our target price."

At 2:30pm: [LON:CLG] Clipper Logistics share price was +9.5p at 290p

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