Plain Sailing for Maersk, at Least for Another Few Months

With Maersk’s share price falling back sharply from its December 2021 highs, the surprise trading announcement on April 26 was just the shot in the arm the shares needed. The company now expects it’s first-quarter numbers to come in ahead of previous guidance, as the supply chain issues that allowed the company to make a profit in 2021 have continued into 2022. Management upgraded their full-year expectations for EBIT and EBITDA by around 25%. While we expect to adjust our forecasts accordingly, this does not change our view on the stock, with our DKK 26,500 fair value estimate sitting comfortably above the current share price level, even with the positive price move on April 26. Therefore, we believe Maersk offers an attractive buying opportunity.