Aker BP (Hold, TP: NOK255.00) - Rangebound with fewer triggers
With production and the realised oil price having been pre-announced, we are neutral ahead of the Q1 report (due 07:00 CET on 28 April) as our estimates are broadly in line with consensus. While the stock is down 15% since mid-March, having underperformed Brent and peers, we find the valuation fair at a P/NAV of 1.06x and maintain our HOLD, with a lowered NOK255 (275) target price.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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.