Icelandic Salmon Minor model adjustments
We expect focus at Icelandic Salmon’s CMD (scheduled for 28–29 September in the Westfjords, of Iceland) to be on the group strategy, growth potential, prospects for Iceland as a new farming region, and planned investments. Of particular interest to us will be the timeline for reaching the 26kt harvest target and guidance on the investment needed. The presentation is due to start at 15:40 CEST (the webcast will be available here). Ahead of the CMD, we have tweaked our cost assumptions for 2023–2024. We do not consider these changes to be material, and we have not changed our BUY recommendation. We reiterate our NOK180 target price.
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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