Maersk: Jefferies starts tracking on 'hold'

(CercleFinance.com) - Jefferies has begun to monitor Maersk shares with a "hold" rating and a target price of 13,000 Danish kronor, in a report on container ship groups, which have "endured a difficult 2023 following a record-setting 2020-2022 period".


"Freight rates, load factors and port throughput have fallen dramatically as retail de-stocking and unwinding congestion have boosted vessel supply and container availability," the broker notes.

"US import volumes have risen in recent weeks, a reason for optimism, though heavy newbuilding deliveries loom in the background," Jefferies adds.


Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.