A. P. Møller Mærsk (Buy, TP: DKK12900.00) - Latin America rates up 33% QOQ
We believe the company could be about to raise its guidance, as our new proprietary Xeneta-based Maersk container rate model points to a QOQ rate rise in Q1. This is explained largely by a 33% QOQ increase in our Latin America container index, which includes the main trade routes of Hamburg Süd. We reiterate our BUY and DKK12,900 target price, noting recent share price weakness.
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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