(News Bulletin 247) – Jefferies starts a follow-up on Maersk with a ‘hold’ recommendation and a price target of 13,000 Danish kroner, in a note on container groups that are ‘enduring a difficult 2023 after a record period of 2020-2022’.
“Freight rates, load factors and port throughput fell dramatically as retailer destocking and decongestion boosted ship supply and container availability,” notes the brokerage.
“US import volumes have been increasing in recent weeks, a reason for optimism, although heavy new build deliveries loom in the background,” Jefferies continues.
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