reports
Rahul Kapoor
- Rahul Kapoor
A.P. Møller Mærsk – lower for longer
Why our 1Q16 estimates proved to be off the mark? Earnings lower for longer What will change our bearish stance? Does 1Q16 performance change the trend? Approach remains cautious despite improvement in 1Q16 Our upgraded forecasts reflect impact from cost optimisation and oil upgrade Value and risk - Maintain Unattractive rating: We maintain our Unattractive rating for the stock with a slight upwards adjustment to our fair value estimate.
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