AP Moller-Maersk: Berenberg upgrades to 'hold'
(CercleFinance.com) - Broker Berenberg has upgraded its rating on Danish container shipping company AP Moller-Maersk from "neutral" to "hold," citing an improved supply/demand balance and the low level of its idle fleet.
"Maersk's shares have fallen by nearly 25% since we initiated in October 2017," the broker said in a report.
"Nevertheless, we think that book value/invested capital metrics offer some support at this level," it added, maintaining its target price of 10,000 Danish kronor for the stock.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
"Maersk's shares have fallen by nearly 25% since we initiated in October 2017," the broker said in a report.
"Nevertheless, we think that book value/invested capital metrics offer some support at this level," it added, maintaining its target price of 10,000 Danish kronor for the stock.
Copyright (c) 2018 CercleFinance.com. All rights reserved.