Norwegian Air Shuttle (Buy, TP: NOK17.00) - January traffic statistics preview
Norwegian Air Shuttle is due to report its January traffic statistics at 08:m00 CET on 6 February. We are positive ahead of the report, expecting a continued strong yield trend and improving load factor YOY. We reiterate our BUY, and have raised our target price to NOK17 (16), reflecting positive estimate revisions on the Q4 reverse profit warning and slightly lower fuel costs driven by the recent drop in CO2 prices.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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