Norwegian Air Shuttle (Sell, TP: NOK170.00) - Traffic stats preview
Norwegian Air Shuttle is set to report its December traffic stats at 08.00 CET on 5 January. We make no strong call ahead of the statistics, expecting figures in line with consensus, with yield supported by positive FX effects. Nevertheless, we reiterate our SELL recommendation as we continue to eye a lack of near-term earnings supports and as we view the financial and operational risk high. Target price remains NOK170.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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