Germany's Commerzbank has initiated coverage of domestic container line Hapag-Lloyd with a recommendation to buy its stock.

It forecast a price of EUR 46 ($55.76) per share within a year, up 35% from now.

The new target is 16% above the consensus average of EUR 39.82.

Hapag-Lloyd has integrated Middle East line UASC and the boxship operations of Chile's CSAV in the last two years.