Cool Company (Buy, TP: NOK180.00) - Exciting times ahead
The Q4 report provided limited news on fixtures, but we remain positive on the potential for the company securing an attractive charter for its vessel coming open in September – supported by seasonal tailwinds. We see further upside potential to earnings should the company secure long-term charters for its newbuild options, more than supporting our average 2023–2025e dividend yield of 13% at the current share price. We reiterate our BUY and 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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