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SHB sees Maersk container ops back to black 2010 (01-02-2010)
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Svenska Handelsbanken (SHB) analyst Dan Togo Jensen maintained the "buy" stance on the stock in Danish oil and shipping group A P Moller - Maersk A/S (CPH: MAERSK B) in a recent analysis, expecting the container business of the group to post profit in 2010.
"We expect that the company's container volumes will grow by about 5-6% in 2010. It is more than the market expectations for a 3-5% growth according to Drewry," the broker said. Handelsbanken also expects that Maersk will gain market shares, and the earnings of the container business will rise due to improved cost control.
The broker maintained the share price target at DKK52,000.
In connection with the group's accounts for the third quarter of 2009, six analysts estimated that the container business will land an after-tax loss of DKK2.4bn in 2010, according to an analyst poll by SME Direkt.
Source: Nordic Business Report
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