Måsøval (Buy, TP: NOK41.00) - Q3 profit warning
Måsøval released a profit warning for Q3 on 28 October. It now guides for operating EBIT of NOK-62m (consensus NOK47m) and cut 2024e harvest volumes by 1.8kt to 24.7–25.7kt. The main deviation versus our previous report is the negative effect from substantially increased sea lice pressure. We reiterate our BUY, but have lowered our target price to NOK41 (42), and expect the stock to trade down 2–4% today.
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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