Fearnley Securities has downgraded shares in AP Moller-Maersk amid suggestions the market is expecting too much from the Danish shipping heavyweight this year.
Analysts Espen Landmark Fjermestad and Peder Nicolai Jarlsby dropped the Copenhagen-listed company from accumulate to reduce today.
They argue that the latest 2017 consensus estimates are setting the bar high with the market between 40% and 50% ahead of Maersk Line’s annual forecast for a $1bn bump in profit.
