Fearnley upgrades Maersk stock to Buy and raises target to DKK 26,000

Published on 10/06/2026 at 16:00 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

2026 EBITDA is USD 13.20 billion, with 2027 estimates 80.00 percent higher. Maersk stock costs EUR 3,255.00 on October 6, 2026 versus EUR 3,221.50.

Isometrisch 3D Logistikkette Frachtschiff A.P. Møller - Mærsk A/S DK0010244508 — A.P. Møller - Mærsk A/S DK0010244508 isometrische 3D-Darstellung globale Logistikkette Lager Frachtschiff Bahnhof drei Stufen, Illustration mit AI erstellt.

Maersk stock was trading at EUR 3,255.00 at Lang & Schwarz on October 6, 2026 at 3:43 p.m. CEST, up 1.04 percent versus the prior close of EUR 3,221.50. Fearnley Securities upgraded A.P. Møller-Maersk from Hold to Buy and raised its target from DKK 15,500 to DKK 26,000 on September 21, 2026, as MarketScreener reported.

Fearnley sees stronger freight earnings

The analyst firm lifted its 2026 EBITDA forecast for Maersk to USD 13.20 billion and raised its 2027 forecast by 80.00 percent, according to MarketScreener on September 21, 2026. Fearnley cited freight rates, forward contracts, demand and port congestion as factors that could absorb much of the expected 9.80 percent capacity growth in 2027.

The target change is substantial: DKK 26,000 is DKK 10,500 above the former target, a 67.74 percent increase. That valuation call rests on freight-market durability rather than a single contract, leaving shipping rates and route conditions as the key operating variables.

Second-quarter figures reset the outlook

Maersk generated USD 15.80 billion in revenue in the second quarter of 2026, up 20.00 percent from the second quarter of 2025. EBITDA reached USD 3.00 billion and EBIT reached USD 1.60 billion in the same period, while free cash flow was USD 549.00 million versus negative USD 373.00 million a year earlier, according to Yahoo Finance.

For the full year 2026, Maersk guides for underlying EBITDA of USD 10.50 billion to USD 12.50 billion and underlying EBIT of USD 4.50 billion to USD 6.50 billion, alongside positive free cash flow. The company also expects the container market to grow 4.00 percent in 2026, a higher assumption than its earlier 2.00 percent view, according to Yahoo Finance.

Guidance expectations meet route risk

A Reuters report carried by MarketScreener on October 6, 2026 said Bernstein expects Maersk to follow with a third guidance increase. The same report said Maersk had restored selected services through the Suez Canal, while analysts did not expect a gradual Red Sea reopening to materially affect 2026 earnings.

That combination creates a clear test for the upgrade case: higher rates support earnings, while normalized routes could alter pricing power in 2027. Maersk's next reported milestone is listed for November 4, 2026, when it is scheduled to release third-quarter 2026 earnings.

Maersk stock trades above its prior close

At Nasdaq Copenhagen, Maersk was last at DKK 24,030.00 on October 6, 2026 at 3:56 p.m. CEST. Its 52-week range was DKK 11,840.00 to DKK 24,960.00, and its market capitalization was DKK 351.1 billion on the same date. The further course of trading is shown by the continuously updated real-time quote of Maersk stock.