UBS downgraded A.P. Moller-Maersk to Neutral from Buy, reducing the price target to DKr 11,000, citing concerns over potential overcapacity in the Ocean sector and investor skepticism regarding the company's logistics transformation. The analysts predict a possible extended period of free cash flow burn starting in late 2025, with scenarios suggesting a stock valuation range between DKr 8,000 and DKr 14,000, depending on ocean demand and freight rates.