Base case: current Hapag-Zim deal falls at Golden Share hurdle
Israel holds the key
© Khunaspix Dreamstime.
Hapag-Lloyd’s (HL) bloody Monday in mid-January is now a distant memory, confirming my fair value estimates – €25.4 a share vs €25.9 currently – were well founded, while reinforcing the view that event-driven investors are playing off HL’s strengths against AP Møller Mærsk’s (APPM) weaknesses and vice versa.
However, the latest news from China, still mixed, is a bit of a headache given the sensitivity of HL’s valuation to downbeat news from the Far East. Some signs are also concerning for APMM, ...
Comment on this article