Höegh Autoliners ASA (Buy, TP: NOK41.00) - Powering on
The fundamentals for car carriers should continue to drive positive momentum in rates, and we view a preannounced Q4 EBITDA of USD78m, up ~50% QOQ, as a sign of things to come. We have lifted our rates on rapidly improving markets and look forward to the company’s outlook for 2022 when its Q4 results are published on Thursday morning. We reiterate our BUY and have lifted our target price to NOK41 (34).
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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