Shares in AP Moller-Maersk were on the decline this morning as Citibank downgraded the shipping giant from “buy” to “neutral”.
The stock of the Danish company was trading at DKK 9,950 ($1,490), while it started the day at DKK 9,900.
Citibank has retained its price target of DKK 10,000 and added there is limited upside potential.
The bank said the imminent restructuring of Maersk would be beneficial in the long-term but would do little to improve the poor state of the markets in which the company operates.
Maersk’s
