Höegh Autoliners ASA (Buy, TP: NOK79.00) - Unfazed by macro scares
The bull cycle for car carriers continues, and we believe the strength in the timecharter market reflects upside potential for the liners as contracts steadily rerate. We find no grounds for pessimism despite hazy macro prospects, as demand looks firm based on inventories and the backlog for cars and favourable high & heavy volumes. We reiterate our BUY and NOK79 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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