Norwegian Air Shuttle (Buy, TP: NOK250.00) - Signs of light
Norwegian reported a mixed Q3 report with underlying figures a tad weaker than expected, soft near-term bookings, and upbeat cost guidance for 2019. Although, with Norwegian there is still risk of an equity issue near term, we find the risk/reward more attractive as the stock is now trading at a discount to our SOTP and what we believe is a potential likely revised IAG bid. We have upgraded to BUY with a NOK250 (245) 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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.