Aker Biomarine (Buy, TP: NOK120.00) - Go easy on the ice
We are cautious ahead of Aker BioMarine’s Q3 results (due on 30 October at 07:00 CET), as we believe strong performance in its land-based operations might not be sufficient to offset the negative impact of challenging ice conditions on its 2020 guidance. Nevertheless, we reiterate our BUY, as we continue to find the valuation attractive, but have cut our target price to NOK120 (130) to reflect reduced estimates.
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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