A.P. Moeller-Maersk A/S, owner of the world’s largest container line, rose the most in six weeks to top the Copenhagen benchmark after Nordea gave the stock its highest rating and said it may gain more than 25 percent.
Maersk’s B shares rose as much as 2 percent, the most since March 5. The stock gained 0.7 percent to 40,920 kroner at 11:05 a.m. local time, with trading volume at 61 percent of the three-month daily average. Maersk A shares led gainers in the 20-member Nasdaq OMX Copenhagen 20 index.
Nordea raised its recommendation to strong buy from buy and reiterated its 55,000-krone price target. The Copenhagen-based conglomerate probably will continue to divest non-shipping and oil-related assets, narrowing a discount to peers and lifting the stock’s value by as much as 19,800 kroner per share, analyst Finn Bjarke Petersen said in a note to clients.
After having divested $18 billion in assets over the past 10 years, Maersk “might consider” selling whole or part of the remaining non-core business over the next decade, Petersen said. The assets, which include holdings in Danske Bank A/S and Danske Supermarket, are worth about $17 billion, he said.
Of 31 analysts tracking Maersk, 15 recommend increasing share holdings in the company, while nine are neutral and seven advise selling the stock.