Atlantic Sapphire (Buy, TP: NOK180.00) - High realised price in Q4
Atlantic Sapphire’s Q4 trading update revealed lower than expected harvest volumes due to delayed completion of the filleting line, but a biomass gain in line with the budget, a high realised price, and application to listing on the US OTCQX market. Overall the trading update was positive, particularly on the realised price. The full annual report will be out on 15 April. We reiterate our BUY and have lifted our target price to NOK180 (151) based on a 70% (60%) probability of success.
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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