Why Shares of ZIM Integrated Shipping Services Are Plunging This Week

Following an analyst's bearish opinion that was reported last Friday, shares of ZIM Integrated Shipping Services (NYSE: ZIM) have consistently fallen throughout the week. Predicated on the belief that ZIM's management has an overly optimistic assumption of spot rate prices, Samuel Bland, an analyst at JPMorgan, downgraded the shipping stock to neutral from overweight late last Friday. Bland slashed the price target to $20.80 from $27.