Icelandic Salmon (Buy, TP: NOK220.00) - Cost and volume potential confirmed
We believe Icelandic Salmon’s first CMD confirmed its potential for higher volumes and lower production costs. We estimate harvest volume of 27.8kt in 2026 and 33.6kt in 2027, with a production cost/kg of NOK54 in 2025 from fixed-cost dilution. We reiterate our BUY and have increased our target price to NOK220 (180).
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.