Aker Biomarine (Hold, TP: NOK84.00) - Set for another mixed quarter
We are largely in line with consensus ahead of the Q2 results (due at 07:00 CET on 14 July). We expect revenues to be down YOY on continued headwinds from South Korea and Kori, partly offset by improved aqua sales, supported by Q1 harvesting volumes. On a more positive note, harvesting looks to be on track so far in Q2. We reiterate our HOLD, but have cut our target price to NOK84 (95).
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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