Maersk Ships a Decent Performance in 3Q, Shares Remain Undervalued
Shipping giant Maersk delivered a solid third-quarter update, with like-for-like revenue up 12% year over year and EBITDA up 16%, as a combination of a more supportive macroeconomic environment, weak comparatives, and an element of self-help drove performance. These results were broadly in line with our full-year expectations and as such we do not expect to make any material changes to our forecasts. We reiterate our no-moat rating and DKK 12,000 fair value estimate. We see an attractive upside ...A.P. Moeller Maersk is an international shipping company. Co.'s operating segments are: Container shipping and related activities which include global container services, inland transportation, manufacturing and repair of containers and container depots, and logistics and forwarding activities; APM terminals; Tankers, offshore and other shipping activities which include tanker shipping of crude oil, oil products and gas, offshore drilling activities and operation of land rigs, supply vessel activities with anchor handling and platform supply vessels, ferry services and door-to-door transportation in Northern Europe; Oil and gas activities; Retail activity; and Shipyards and other activities.
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