Norwegian Air Shuttle (Buy, TP: NOK15.00) - August traffic statistics preview
Norwegian Air Shuttle is set to report August traffic statistics at 08:00 CET on 5 September. We are positive ahead of the statistics, forecasting a flat yield YOY, while the SAS strike has created upside potential for estimates. We reiterate our BUY and have raised our target price to NOK15 (14) on positive estimate revisions. At our revised target price, the stock is trading at a 2025e P/E of 7x.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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