Höegh Autoliners ASA (Buy, TP: NOK112.00) - Another quarter in the bag
The group’s monthly updates indicate it had another strong quarter, and we see prospects of many more, as solid supply and demand fundamentals fend off a wave of deliveries in the coming years. Despite brewing political risk and a sluggish macro outlook, we still find the stock attractively valued. Hence, we reiterate our BUY and have raised our target price to NOK112 (107).
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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