August traffic stats
Norwegian is set to report its August traffic statistics at 08.00 CET on 6 September. While we expect yields to be supported by a still-favourable season and easing FX effects, this is already factored into the share price. We reiterate our SELL recommendation and NOK170 target price as we still find the valuation too rich given the high operational and financial risk.Norwegian Air Shuttle is a low cost passenger travel airline. Co. operates both scheduled services and additional charter services. Co. has aircraft bases in Norway, Sweden, Denmark, Finland, Spain and the U.K.
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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