Hunter Group (Buy, TP: NOK4.80) - Attractive risk/reward
Based on our new sector rate forecasts, and adjusted for Hunter’s announced timecharters and Q2 spot rate guidance, we estimate EPS of USD0.17 (NOK1.7) through our forecast horizon – corresponding to 46% of the current market cap. The potential refinancing is guided to take run-rate cash breakeven to USD20.5k/day, and we believe the company remains committed to returning capital to its shareholders. We reiterate our BUY and NOK4.8 target price.Hunter Group is developing the Badger Explorer, a revolutionary technology for exploration and verification of hydrocarbon prospects, without the risks, cost and complexity of drilling an exploration well with a rig. The Badger Explorer tool acquires exploration data as it drills, and once installed at its target depth, can continue to monitor subsurface parameters to enhance development and production activities.
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.