DnB Markets - Arctic Bioscience (ABS) Arctic Bioscience (Buy, TP: NOK60.00) - Q4 trading update

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DnB Markets

Patrik Ling

EUR 88.48 For Business Accounts Only

Arctic Bioscience (Buy, TP: NOK60.00) - Q4 trading update

The company issued a planned trading update for Q4 on 18 February (the full report for 2021 is expected on 7 April). We have not updated our forecasts based on the trading update, since the company released only selected numbers. Sales for Q4 were slightly lower than we expected and the adj. EBITDA loss was also bigger. Guidance for 2022 was reasonably in line with our forecast. We reiterate our BUY and NOK60 target price.

18/02/2022 1 EN

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Arctic Bioscience

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Provider

DnB Markets

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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Analysts

Patrik Ling

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Arctic Bioscience (Buy, TP: NOK60.00) - Q4 trading update

Arctic Bioscience (No_rec, TP: NOK) - HeROPA-trial 1-year read-out

Arctic Bioscience (No_rec, TP: NOK) - Recommendation and target price withdrawn

Arctic Bioscience (Hold, TP: NOK15.00) - HeROPA-trial results

Airthings (No_rec, TP: NOK) - Recommendation and target price withdrawn

SpareBank 1 Helgeland (Hold, TP: NOK167.00) - Softer margin, but lower costs

Smartoptics (Buy, TP: NOK27.00) - We remain optimistic

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