MPC Container Ships (Hold, TP: NOK14.60) - Substantiated sell-off
MPCC’s 2024 guidance disappointed, and we expect the same issues to weigh on 2025 expectations, where we are ~23% below consensus EBITDA. Hence, we have lowered our estimate for the remaining DPS to NOK3.9, leaving material residual risk to a still-unappealing sector outlook. We reiterate our HOLD, but have cut our target price to NOK14.6 (15.0).
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.