Bakkafrost (Hold, TP: NOK520.00) - Good Q2 report
Q2 operational EBIT was DKK338m, ~10% above consensus and 4% above our estimate, despite Eastern Europe sales still only accounting for 7% of volumes. The report suggests a stable outlook; hence we expect small positive consensus EPS revisions and a 0–2% positive share price reaction today.
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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