Cool Company Minor model adjustments
We have made minor estimate revisions ahead of the Q2 report (due before the market opens on 1 September), given recent developments in the freight market. We remain positive on the underlying sector outlook, supported by elevated arbitrage opportunities going into 2023, but expect some near-term headwinds from the Freeport LNG export disruption. We do not consider these changes to be material, and we have not changed our BUY recommendation. We have raised our target price from NOK107 to NOK116, driven solely by currency appreciation.
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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