Aker Biomarine (Hold, TP: NOK45.00) - Set for growth in 2022e
We are slightly below consensus ahead of the Q4 results (due at 07:00 CET on 17 February). We expect revenues to be down YOY on continued headwinds from South Korea, partly offset by a return to growth for its Brands business. On a more positive note, harvesting appears to be on track to meet the high end of its full-year guidance. We reiterate our HOLD and NOK45 target price.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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