JPMorgan resumed coverage of AP Moller Maersk with an Underweight rating and DKK 8,575 price target. The firm resumed coverage of the European logistics group, favoring companies with strong competitive positions in industries with barriers to entry and pricing power or companies that are consolidating their market to reach scale and leverage systems to drive improvements to their cost position. The analyst is cautious on container shipping, saying “storm clouds are gathering” as rates have peaked and supply keeps building.
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Read More on AMKBY:
- AP Moller Maersk price target lowered to DKK 9,217 at Deutsche Bank
- AP Moller Maersk upgraded to Buy from Neutral at Clarksons
- AP Moller Maersk price target lowered to DKK 9,800 from DKK 10,700 at Barclays
- AP Moller Maersk price target raised to DKK 14,400 at Morgan Stanley
- AP Moller Maersk upgraded to Buy from Hold at SEB Equities