Norwegian Air Shuttle (Buy, TP: NOK9.00) - Likely weak Q4
We are lukewarm ahead of the Q4 results (due at 07:00 CET on 16 February), expecting EBITDA to be below consensus and soft ASK and CASK guidance for 2023. We reiterate our BUY and NOK9 target price as we continue to find the valuation attractive with the stock trading in line with its historical P/E despite our significant negative estimate revisions. Furthermore, we still believe Norwegian Air Shuttle stands out as a relative outperformer in a market where all its key competitors are struggling to survive.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.