Norwegian Air Shuttle (Buy, TP: NOK15.00) - February traffic statistics preview
The February traffic statistics are due at 08:00 CET on 4 March. We expect a continuation of the positive yield trend seen since last summer, supported by travel spending statistics and positive outlook comments at its Q4 report. Nevertheless, the recent spike in fuel prices has increased the uncertainty around 2022 estimates. We reiterate our BUY and NOK15 target price.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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