Norwegian Air Shuttle (Buy, TP: NOK14.00) - October traffic statistics preview
Norwegian Air Shuttle is set to report October traffic statistics at 08:00 CET on 6 November. We are positive ahead of the report, forecasting a modest increase in yields and 9% ASK growth. We reiterate our BUY and NOK14 target price as we continue to believe the future is brighter than is discounted in the share price, with the stock trading at a 2024–2025e P/E of c7x.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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