[LEFT]1035 GMT [Dow Jones]–AP Moller-Maersk’s (MAERSK-B.KO) 4Q results are as gloomy as expected, due to extraordinarily weak container shipping rates, but the major negative surprise is the company’s oil business outlook, says Alm. Brand analyst Jesper Christensen. “The container business disappointed in 4Q, but not to an alarming degree. What I place weight on is the expected 20% decline in Maersk’s oil output in 2012. They postpone their 400,000 boe/d target by some 2 years to about 2016, that’s a let down,” Christensen says. He maintains a buy rating, and places DKK54,000 target under revision. Shares down 3%, at DKK44,160.
- Flemming Hansen, Dow Jones & Co[/LEFT]