A. P. Moller Maersk A/S Class B

MAERSK B: XCSE (DNK)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	DKK 74,948.87	Jzyk	Svdcyyn

Maersk Brushes Off the Effects of the Ukraine War to Deliver a Storming Q1

Michael Field

May 4, 2022

Having just last week upgraded their full-year guidance on the back of a stronger-than-expected performance in the first quarter, surprises are few and far between on this morning's trading update by A.P. Moller-Maersk, or Maersk. While we may tweak our near-term forecasts in the coming period, we do not expect this to have a material impact on our DKK 26,500 fair value estimate. At these levels, we view the shares as highly attractive.

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