Maersk Likely to See Large Rates Decline in H2, Bank of America Says

• (PLX AI) - Maersk remains likely to see a normalization of the container freight market in the second half of the year, with a large drop in rates, analysts at Bank of America said in a report.
• • Maersk remains rated buy at BofA, with price target cut to DKK 28,500 from DKK 32,000
• • Although container volumes fell 7% in the first quarter due in part to the Covid lockdown in Shanghai , there could be a surge in volumes once restrictions ease, the analysts said
• • Maersk may return as much as $11 billion in cash to shareholders next year with dividends and buybacks: BofA