Atlantic Sapphire (Buy, TP: NOK150.00) - Hiccups in Denmark
Atlantic Sapphire’s H1 2019 report reveals the US construction to be 80% completed, with fish ready to be introduced into saline water in Q4 2019. The US construction is reportedly on schedule, but the company indicated a 5% hike to capex. A delayed commissioning of a water intake in Denmark caused some unwelcome operational hiccups in the pilot plant. The company has taken steps to rectify the situation and has restored stable production as of Q3 2019. We reiterate our BUY and NOK150 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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