Aker Biomarine (Buy, TP: NOK120.00) - Sales miss, but set for full-year guidance
As expected, Aker BioMarine had a weak Q3, badly hit by low harvesting volumes. However, we find it positive that the company still believes the 2020 guidance is within reach, given the increased onshore production efficiency and that the Kori brand launch should be moving in the right direction. We reiterate our BUY and NOK120 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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