Hunter Group (Hold, TP: NOK3.10) - Drifting on earnings premium
Following the Q4 results, we have revised our estimates, as near-term guidance was below our expectations. As the orderbook-to-fleet ratio is at a 25-year low for crude tankers, with high newbuilding prices, we believe the company’s modern fleet should benefit from its earnings premium during the near-term headwinds and limit the impact on earnings as we await the forecasted market uptick. We reiterate our HOLD, but have raised our target price to NOK3.1 (3.0).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.