Maersk Still Experiencing Good Times Despite Clouds on the Horizon

The supply chain crisis is improving, lockdowns in the West are a thing of the past, employment in transportation is back to precoronavirus levels, and port congestion is, by and large, easing. While all this is occurring, the effects are still working their way through the system. Meanwhile, a firm like Maersk, the world’s largest shipping company, is making the most of the current situation. The company has once again raised full-year guidance, on the back of stronger-than-expected results, primarily in the ocean business. We expect to adjust our near-term forecasts upward, but with our fair value estimate already at DKK 26,500, this won’t have any impact on our view of the stock. With almost 30% potential upside from prevailing levels, we believe the stock is highly attractive.