A. P. Møller Mærsk (Buy, TP: DKK12900.00) - Guidance should come up
We reiterate our BUY and DKK12,900 target price despite the stock rising 10% since 27 April. We expect Maersk to increase its guidance and consensus to rise after the Q1 results (due at 08:00 CET on 17 May). We are 16% above Q1 EBITDA consensus. Latin America rates (21% of Ocean volumes) rose 45% YOY in Q1.
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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