UBS, a Swiss bank, has lowered its rating on A.P. Moller-Maersk from "Buy" to "Neutral" and has also reduced the price target for the company.
The analyst, Cristian Nedelcu, expressed concerns about the company's capital utilization and the medium-term outlook of overcapacity in the overseas shipping sector.
This downgrade reflects the challenges that Moller-Maersk is facing in a competitive market and in addressing potential overcapacity issues.
The decision comes at a time when investors are already worried about the company's performance and market conditions.