Denmark's AP Moller-Maersk has secured an upgrade by Fearnley Securities after big stock falls this year.

Analysts Espen Landmark Fjermestad, Peder Nicolai Jarlsby and Ulrik Mannhart said the shipping giant's valuation, measured by enterprise value divided by invested capital, is nearing the all-time low seen in 2018.

Maersk to strike on third tranche in its mammoth $1.5bn share buyback
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