AP Moller Maersk price target raised to DKK 12,100 from DKK 11,500 at Wolfe Research

Wolfe Research raised the firm’s price target on AP Moller Maersk (AMKBY) to DKK 12,100 from DKK 11,500 and keeps an Underperform rating on the shares. The firm said that transport has been stuck in a prolonged and muted cycle with the ISM manufacturing index below 50 for 36 of the past 38 months, and LTL tonnage has been negative year-over-year for 22 of the past 23 months. That said, truckload spot rates have materially outperformed normal seasonality for the past six weeks, the analyst tells investors in a research note.