Höegh Autoliners ASA (Buy, TP: NOK107.00) - Solidifying a strong outlook
We were positively surprised by Höegh Autoliners’s recent contract renewals, with prospects for more to come. As we believe the tight markets should persist well into 2024e, 50% of annual volumes could be rolled over to better rates and durations. The implied support should help solidify the cash flow potential near- and medium-term, which we believe is far from reflected in its current valuation. We reiterate our BUY, and have raised our target price to NOK107 (96).
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.