Hunter Group (Hold, TP: NOK3.00) - Limited impact from market slump
Ahead of the Q4 results, we have reduced our estimates owing to the recent market weakness, while we forecast Q4 EBITDA of USD6.2m, 6% below Bloomberg consensus. In our view, Hunter Group’s positive exposure to elevated bunker prices and fuel spreads should limit the impact of the current market weakness, while we wait for scrapping to pick up pace. We reiterate our HOLD, but have reduced our target price to NOK3.0 (3.3).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.