Bakkafrost (Hold, TP: NOK340.00) - Contract coverage in focus
We expect Bakkafrost to report operating EBIT of DKK207m, some 7% below consensus. The Q4 results are due on 20 February at 06:00 CET. Any outlook comments on supply/demand and contract coverage will be focus areas in the report. We forecast a DPS of DKK9 versus the reported DKK8.7 last year. We keep our NOK340 target price and HOLD recommendation.
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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