Aker BP (Buy, TP: NOK285.00) - 2022e DPS boost, better news flow
We believe it is time to revisit the AkerBP investment case after recent underperformance, with one of our key concerns set to be removed with proposed tax changes. We also expect compelling news flow ahead, with higher DPS and more FIDs in 2022. We have upgraded to BUY (HOLD), with an unchanged target price of NOK285.Aker BP ASA engages in the exploration, development, and production of petroleum resources on the Norwegian Shelf. In addition, Co. has a separate Johan Sverdrup business unit to manage its interest.
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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