A. P. Møller Mærsk (Buy, TP: DKK13200.00) - We would buy ahead of the CMD
Maersk is set to report its Q4 results on Friday 9 February at 08.00 CET. We believe Q4 is less relevant than guidance for 2018 and that consensus is too conservative, expecting only ¼ of Maersk Line recovery in 2018 versus 2017. We reiterate BUY, while our target price is cut to DKK13,200 (14,600).
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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