AP Moller Maersk downgraded to Hold from Buy at Jefferies

Jefferies analyst Omar Nokta downgraded AP Moller Maersk (AMKBY) to Hold from Buy with a price target of DKK 11,500, down from DKK 15,000. The firm says that while Maersk remains its favored name in the shipping sector, it sees the shares remaining range-bound “due to the uncertainty ahead.” The Israel-Hamas ceasefire suggests safe passage through the Red Sea is on the horizon, “though plenty of uncertainty remains on Houthi intentions,” the analyst tells investors in a research note.

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