Lundin Energy (Hold, TP: SEK235.00) - Miss versus consensus on weaker realised prices
Lundin Energy reported Q2 EBITDA of USD335m, in line with our estimate, but 8% below consensus. All guidance items were unchanged, and we expect limited consensus revisions on the back of the report. However, testing higher plateau levels on Sverdrup in H2 could provide some 2021 production upside.
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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