Arctic Fish (Buy, TP: NOK125.00) - Fire at smolt expansion site
On 23 February, a fire broke out at Arctic Fish’s smolt expansion construction site. The fire will delay the strong growth in harvest volumes previously expected for 2025 to 2026–2027, we estimate, and we have updated our forecasts accordingly. The existing smolt production at the site is unaffected and the expansion is insured. We reiterate our BUY but have cut our target price to NOK125 (135) on our lowered 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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